Had fun in Castine:
For anyone from Castine reading this: Welcome to the board.
You can register here on Ihub by clicking on the 'InvestorsHub' icon at the top-left of the page. Then you can post messages. You can read messages only if you don't sign up. (it's free, no credit card info required.)
I'm happy to provide opinions or thoughts on any questions about the market -- or specific stock ideas. It takes just a minute to put up a chart link here to get a sense of the technical strength of a particular stock.
Today's internals were very bullish. A great day for those who loaded up on Friday. It was probably a difficult day to daytrade -- very choppy intraday.
XLY - consumer discretionary index, was up 5.25% which tells me the market felt good about the economy. Even though the market faded a bit, when I got home at 3 PM and checked the internals, it was clear that today, at least, was not going to fade away. As for the rest of the week, it remains to be seen.
There are quite a few cross currents now and I wouldn't be surprised to see this volatility continue, with huge jumps in either direction now...
I'll be curious to see what the blogosphere is saying now.
One of my China names, CCME reported a very good report.
But CPBY got trashed and I ended up selling it for a loss.
So I'm personally about 66% in cash now. Holding only 'value names'.
Good luck in these difficult times.
The main thing lesson of today is: don't trust anyone -- not the news, not your friends, not your broker, not even me. The only thing you can really trust is the charts.
And don't trust the charts either.
AI
