May 20, 2010
– Comments (7) |
RELATED TICKERS: HMC
My math shows the dow at 9980 on this slide down, 2nd of the month we should have some rebound, don't konw how much move up. Later in year may be lower if govement doesn't cut loose with spending and bail out our states.
We hit within 100 points, that may be close enough. I will be buying some hmc. I like in the 28.5 but will get some now at 30.8
Hmc hit my number and now is going up. Overall a very profitable week. Closed out 70% of my shorts and had them send me a check.
This blog was submitted last night May 19 2010, it did not post until today, the market lost 376 points today, I was heavily short
We hit that this morning.
went hevy short last part of friday and will close with a light account before last half hour. mostly cash, short hog long hmc but not real heavy on any
May 21st every thing went as I planed, the dow went to my target and even 60 points lower,Up late mornith and the mid day was good for going short, the last hour was full of traders closing out their shorts (after a 3 hour smooth slide from the intraday high) sending the market up as expected at the close. Went short a little after hours on Hog.
Sunday May 23 2010: I believe the market is worth 8500 and I add 10 to 15% for growth and I look at the average for the last 12 years excluding 2007 and it comes to 9600, maybe we are going to hit that Monday or Friday. I don't think we will hit 8500 for some time. Hopefully Pres Obama will bail out the states then we can reduce unemployment and prevent the wide spread local tax and fee increases. At this point the average person is all for cutting spending, even though it is way too late for that and doing it now just increases our unemployment, sends fear to teachers, fire and police. They don’t spend and that adds to our problems. Cutting during a recession is what fueled the depression.