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Tuesday, December 21, 2010

Waiting

Hello everybody,
Wait and see mode particularly between Dec 29 and Jan 8.
Trend keeps unchallenged and I'm aware that trading gets lighter for the festivities.I was expecting some kind of reversal for a few days starting Monday but look that the equity market got it's own plans to the upside.

My objective is trying to get the 4-7 movements where the trend changes during a calendar year, and is very challenging, not there yet.
So plainly put, sometimes I don't have nothing to say, just wait and see what happens.I don't want to mix what in my view are important dates astrologically speaking in a year, with what will be more of a personal opinion that last only a few days. I don't want to confound people with lots of opinions.

Since September the trend got very strong expecting a correction around nov 17 which ended up to be a continuation of the existing trend. Like I mentioned a few months ago the trend was up and is not clear to me right now if it's going to be a mild correction or we just keep in the same direction.That's why I want to see Dec 29-Jan 8 and how we get out of that time window and reassess or keep my original view longer.

Holding EK,MBI and past week I got into BSX again and SPPI.
ITMN the bad news is that I didn't get it this past week but the good one is that confidence in what I'm doing is growing steadily seeing the company pop more than 100% two days ago. I'm just getting closer and closer and hopefully is a matter of time.

Anyway we are toasted from an economic point of view, so instead of getting worried about the economy now is probably healthier to just enjoy with family and loved ones the end of a challenging year.

Merry Christmas and Happy New Year!

Dan

16 comments:

  1. @Dan,

    Thanks for sharing your thoughts. S&P has hard time breaking out to the upside of 1250.

    Meanwhile Cotton is all time high. There is no shortage of sugar in India- biggest consumer.

    I Can

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  2. Dan,

    Thanks for the post. Adding to the mix is the fact that Jan 1 brings new money into the market so it will be very interesting to see how that plays out.

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  3. From TBP - Single stock ETF's.

    "A top executive with a money management firm who is familiar with his company’s plans to launch such a product and was granted anonymity so he could speak freely, put it this way: “Think about the prospect of, say, a GE tracking ETF — an investor could capture over 99% of the movement of GE while simultaneously forfeiting any claim to a dividend and paying us up to35 basis points to manage the ETF. What’s not to like? We think this product paves the way for the ETF marketplace to collect its next trillion in assets.”"

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  4. How could American financial companies exist if not for fleecing their customers?

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  5. @dss(10:15)

    What a rip-off! Is there any consumer protection agency?


    ICan

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  6. @I Can,

    It is buyer beware, if you buy any ETF you should be aware of it's structure, fees, and dividend payouts.

    It is a sweet deal for the future GE ETF's issuer. Basically, free and riskless money.

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  7. We can sell off to the 123-122.75 level SPY without breaking the uptrend.

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  8. Morning all - Great post Dastro, we all seem to be waiting for this correction. Merry Christmas and Happy New year to you too!

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  9. Happy Winter Solstic to all.

    Did anyone get to see the Lunar Eclipse last night?

    Mutt

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  10. Mutt - Was raining here, but my best buddy up in SF had a clear sky long enough to get some pretty amazing pics. I'm sorry I missed it, I heard it was really nice!

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  11. too snowy here to see anything last night.

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  12. Blogger gets 33 months for threatening Illinois judges

    A right-wing New Jersey blogger has been sentenced to 33 months for making death threats against three federal judges in Illinois.

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  13. Denise - Ah, so careful what we say!

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  14. @Thor,

    While there have been some crazy comments and stalkerazzi behavior I think we don't have anyone sinking so low as to give a death threat.

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  15. Have a great time on vacation, Thor!

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