Thursday, October 27, 2011

Thursday cinema & library

Note: Adding links later today (after work).

10:41 am (Hawaii) Took a spin with FAS, in at 16.55, rose to 16.73 or so, and dropped. Stopped out at 16.40. Very small loss, but the size of position is clearly affecting my exit strategy. Had I doubled the position, I would've bailed at 16.60 or 16.65. But because the position was so small, I was willing to ride a swing back up. After getting stopped out, FAS dipped to 16.15 or so before rallying back to 16.50 afterhours.

That's all I did today. Planning to rework strategy to lock in small gains rather than "lock in" small losses in this turbulence. How long will the ECU's decision have an effect? Could be weeks, days, hours. Maybe the market dives tomorrow. As Max Keiser (above) noted, there has been no sustaining solution. It's all printing fiat and bullshit politics. Not that I want to go long FAZ yet, even at 35+.

There are desperate fund managers out there. Everyone with a toe in the market will be bobbing and weaving through the torrent of bad, dumb news coming out of the banksters and EU and Fed. The managers will keep dipping in, though, to salvage a lost year. It's not about economics or fundamentals or technicals right now. It's about big money and where it swims. Pilot fish time.

Turd Ferguson: Fast market = fast update (Oct 27)

Hit the Bid: Dow 20 thou believe it (Oct 27)


(video) Fox: UKIP leader Nigel Farage (Oct 27)
(video) Euronews: China welcomes EU debt deal (Oct 27)

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