Wednesday, February 13, 2008

Button Pusher Party



Bullish action today, although I get the feeling again that there is much less here than meets the eye. Some factors in the rise: 1)low volume 2)options expiration 3)Yahoo merger talks again, plus AMAT had decent numbers 4)stimulus package signed today, 5) retail sales not as dismal as expected

The button pushers, those corrupt SOBs aided and abbetted by our Federal Government have a much easier time during these lower volume periods. Today the market opened up and stayed up. Many leading stocks gapped impossibly, such a AMAT and FSLR so for the retail investor it was impossible to buy and make any money. Again typical button pusher shenanigans.

I tried to fight the market in the morning, but then I got wise and closed those positions out. Less fun was the weakness in bonds which comprise about 50% of the portfolio. But I'm of the opinion that this bond action is a retracemment so I propose to sit tight and just deal. I'm trying to look of those bond positions as multi-year things that will ebb and flow, and hopefully pay some income.

I'm such an idiot to fight this though. Had a just gone long Monday and gone to bed I would have done better. Inside I'm trying to time the top and I've been wrong a few times. More discipline, less desperate market watching is the cure, hopefully.

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