Zeev, Great calls, Great advice... All I could manage was about 10% in under a month on S&P 500 in Mutual Funds. Now that I have eliminated them I will not be in these in a Mutual Fund account anymore... The anguish of knowing that the market can turn in that last hour+ against your sell is too risky in this market... Hope to see more Dow calls like those again soon! Still patiently waiting for VTSS & GTW to flower!
Once again, You are awesome! Will likely buy into the dip if Turnips say so!
Zeev, Thanks for your occasional Dow posts. I closed out GE,JPM,and HD today, and all with nice profits. I'll be waiting for some good discounts as you would say.
On 8/22, I strongly suggested closing the Dow six gambit (#msg-472445). I think it is now safe for the conservative players to reinstate some of these here and replace JNJ with AA (buy at let say $20.25 sell target just under $25), and replace MRK with EK at around $26.75 (target $32), then enter XOM under $32.75 for a move hopefully above $37.5 to the $39 area. MMM enter here around $116, for a move, this time, hopefully it takes out $130, but if not, just take the 10% or so. IBM could be bought probably around $62 (but here use a short stop at just under $60) for a move to the $74/76 area. MSFT at around $45 for about 8 to $9 bucks to the $53/$54 area. In all cases use stop losses at around 10% under the entry point. If MRK and JNJ break down in the next few days, they may join this list, right now both are still "perched".
Most of these should yield a 20% bounce in the next few weeks, maybe even more if the current decline takes care of what I expected in October (the same coalescence model I used last year might be at play here as well).
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