I've been taking advantage of the holiday rally to unload

I'm a bit late posting this, but I took advantage of the rally from 741-->942 to cut my losses on the poor positions I bought back in September 2008.

As you can see from the chart, I sold:

  • C around $8
  • F around $3
  • AAPL around $100
  • GS around $71
  • IFN aroudn $18 (plus a $6.50 or dividend)

I took a pretty big hit on each of these, but it's been a good learning experience. One of the best lessons: if everyone is predicting the same thing as you, it's not going to happen (e.g. the common consensus was that the bailout was going to end the market downtrend).


Anonymous said...

Short term everyone is predicting a rally immediately now into next week.

Narayana said...

It's true. That means either we reverse quickly on Monday, or we blast through the level where everyone thinks the rally will end (870-900). :)