Still haven't bought back in
Although I thought Friday was a good day to buy, I held off. Today as well.
I felt that the aggressive moves by the Fed were not only ineffective, they were a sign that the Fed is trying to stem the tide of a panic sell-off.
And panicked or not, the market is selling off. Not everything, but just about.
I don't know when to buy back in, frankly. I feel like the Eddie Murphy character in TRADING PLACES and I'm trying to maximize the returns. I at first thought the Friday options expiration day would be a good day, but it didn't feel right. I'm glad I held off. I now think we will have a rough Thanksgiving week.
I also went shopping this week. A lot of people, but not tons. Retailers are scrambling to pull people in. I wonder how the day after Thanksgiving will be for shopping - certainly not a huge day.
And yet, while the credit issues loom, credit card companies are sending me aggressive loan offers. I'm sure this will keep th eparty going for a bit longer.
I have been conducting a stock review in fits and starts. It will take me the rest of the week to complete.
Fundamentally, many companies are poised to continue to do well. Others are putting up a facade that is crumbling. I know that sounds obvious, but I don't think Wall Street is good at distinguishing between the two, and that's how we'll make some money.
I felt that the aggressive moves by the Fed were not only ineffective, they were a sign that the Fed is trying to stem the tide of a panic sell-off.
And panicked or not, the market is selling off. Not everything, but just about.
I don't know when to buy back in, frankly. I feel like the Eddie Murphy character in TRADING PLACES and I'm trying to maximize the returns. I at first thought the Friday options expiration day would be a good day, but it didn't feel right. I'm glad I held off. I now think we will have a rough Thanksgiving week.
I also went shopping this week. A lot of people, but not tons. Retailers are scrambling to pull people in. I wonder how the day after Thanksgiving will be for shopping - certainly not a huge day.
And yet, while the credit issues loom, credit card companies are sending me aggressive loan offers. I'm sure this will keep th eparty going for a bit longer.
I have been conducting a stock review in fits and starts. It will take me the rest of the week to complete.
Fundamentally, many companies are poised to continue to do well. Others are putting up a facade that is crumbling. I know that sounds obvious, but I don't think Wall Street is good at distinguishing between the two, and that's how we'll make some money.
posted by Andrew at
12:25 PM
1 Comments:
Hi Andrew,
I dont know if you get the comments. I dont see them anymore. Anyhow, I was asking about SKF. I know you were not planning to play options on LR? But, I think with this volatility, we would be much better off with puts. Though I have played couple of times, lost a bunch and hence thinking if you could consider them too.
Thanks much!
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