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SharePlanner (< 20)

My Reasons For Why I Sold Everything

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January 17, 2011 – Comments (9) | RELATED TICKERS: SPY

When I provide my daily trading plan tomorrow, I will be 100% in cash - something that doesn't happen all that often. At the close on Friday, I proceeded to close out all eight existing positions in my portfolio. But let me be clear, I'm not some dooms-and-gloom guy calling for a market crash on Tuesday or any day in the near future. Instead, I simply concluded that the risk at this stage of the rally was much greater than any reward that could be had. As a result, on that conclusion that came from a multitude of reasons, I proceeded to close out one position after another. 

What I believe we could see this upcoming week is some selling, perhaps similar to what we saw that followed the rally back on 1/5 of this month, with a worst case scenario of what we saw on 11/8 and thereafter for two weeks. 

So here are my reasons for selling.


 

9 Comments – Post Your Own

#1) On January 17, 2011 at 11:43 AM, topsecret10 (< 20) wrote:

As oil prices rocket past $100.00 again,the market pundits are asleep. This will stop any recovery In It's tracks,and could send the stock market Into a nose dive....  Everything Is rising.... Oil,food,gas,groceries,gold,silver,rare earths, (just about ALL commodities) and of course,the stock market. All of the usual media cheerleadeers were trumpeting that the jobless rate fell to 9.4%,but what they forgot to add Is that most all of the jobs were temporary (for the christmas season) and they also forgot to mention the tens of thousands of people that just GAVE UP looking for work. The unemployment number that Is constantly used by our government and the national media Is meaningless. REAL UNEMPLOYMENT Is over 20%. The stock market,the oil market,and just about everything else that Is skyrocketing Is being manipulated by speculators with access to large amounts of capital. The average "Investor" Is on the sidelines. With U.S Government debt approaching 14 Trillion dollars,and a FED that keeps printing money,we are headed for ANOTHER financial BUST In the not so distant future.....  When I read articles like this ..... http://www.cnbc.com/id/40988436    It really gives me reason to pause. The housing market Is still In shambles,the average consumer cannot get credit,and there are not enough jobs being created to sustain an economic recovery. This Is not about gloom and doom,It Is about reality,and at the present time I am afraid that there Is more risk to the downside In the stock market than upside potential....   http://caps.fool.com/Blogs/ghosts-of-2008-10000-plus/515121

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#2) On January 17, 2011 at 1:16 PM, Momentum21 (81.79) wrote:

I don't think you are going out on much of a limb with the timing of your call...since you are making it after lots of new info on the table and our market is closed. 

China sold off big time, Jobs and AAPL will weigh heavily on the NASDAQ and European market uncertainty seems pretty high today. 

If I could go all cash right now and wait for the open I think I would take that as well. : ) The stars seem to be aligned for a pullback but lets see what the market is made of this week. 

Investors might just buy that AAPL dip on earnings and push us to another level.  

Why didn't you communicate your all cash position when you posted Friday afternoon? Do your subcribers get that info first?

 

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#3) On January 17, 2011 at 1:51 PM, Bays (30.22) wrote:

Market timing, meh.  If youre in for the long term, a 10% correction really doesn`t mean anything.  Since it is proven to be impossible to time the market consistently, better off holding core positions, and add into any dips. 

I can`t remember all the posts I saw like this March 09, April 09, May 09, etc...

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#4) On January 17, 2011 at 2:12 PM, Momentum21 (81.79) wrote:

#3 - SharePlanner also reported that he was 100% cash before the flash crash in May...all this would be very notable if we knew what he was doing before the event happened! 

I do go to his site sometimes and like some of the screens he does but I am calling BS on the legitimacy of the real life trades.

His posts read like a horoscope at times.  

In fairness, I probably am missing some of the context without understanding the bigger picture but his self-promoting posts make me view him with a bit more skepticism then the average Fool trying to make a prediction.   

 

 

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#5) On January 17, 2011 at 3:14 PM, Teacherman1 (51.70) wrote:

Not 100% in cash, but am 70% as of the end of the week. Not predicting a crash, but just a correction and am looking for opportunities to buy.

I kept the ones I am in for the long term, but have been doing more short term "trading" lately and deicded to take profits and look for more short term opportunities.

Not that any of this matters to anyone but me, but just thought I would throw it in.

Hope everyone had a nice long weekend.

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#6) On January 17, 2011 at 8:23 PM, zCreator (94.96) wrote:

Funny, I think we're going to be going up for awhile.

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#7) On January 17, 2011 at 8:46 PM, Speculatormaster (< 20) wrote:

I also believe that market is overbought, just that I don't know how much it will continue overbought and I don't want risk to see it up more, and then risk to have the cash just doing nothing in my accounts, I want to ask you if was best idea to keep the stocks and buy put contracts over them?, if the market want to up at least you keep the stocks, but if down type market crash, the options will protect you, definitly with your actual move you will miss the oportunity if market continue up let say dow 12,000 for example. And one thing is sure that you will don't risk to buy it if market start to climb more.  So in my opinion the cash will be there just doing nothing in your account. (Inflation cost will devaluate then your cash)

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#8) On January 18, 2011 at 2:15 AM, Valyooo (99.55) wrote:

Everybody I can see is waiting for a pullback..so I think it won't happen until somewhere in mid feb when everybody stops waiting for a pullback

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#9) On January 29, 2011 at 2:56 PM, topsecret10 (< 20) wrote:

Valyooo   wrote:  

Everybody I can see is waiting for a pullback..so I think it won't happen until somewhere in mid feb when everybody stops waiting for a pullback...  No,It's happening now. Look out below my fellow fools    TS

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