1/14/2009

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).

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2 comments:

Anonymous said...

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

January 17, 2009 at 12:45 PM
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). :)

January 17, 2009 at 2:36 PM

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