Wednesday, September 23, 2009

Trades!

Finally, a couple of good ones.

First, sold all my NG @ $5.26. +98% on the first bunch I bought, +28% on the second bunch

Second, sold half my ABX @ $37.36. for a 13% gain.

I still have a 10% position in ABX.

Here's my thinking. The market is at ridiculous sentiment levels. The dollar is at strong support. No one talks about it bouncing off, just what happens if it breaks through. Mutual Fund cash levels are at extremely low levels. The Fed's money printing schemes are sunsetting in a couple of months. Insiders are selling like crazy, probably as they look at analyst expectations for their companies. Chinese equity markets haven't been able to recover, even as the US markets roar higher. The Baltic Dry Index is about 30% below a healthy 3000 level. Stock prices keep going up on lower and lower volume.

So, I may do some shorts tomorrow, especially if the market jumps on Bernanke's Fed report today.

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