Tuesday, November 4, 2008

Sharpening The Cutlery

A very, very nice performance by the bulls today. Kudos and hat tips everywhere. It looks to me and others that it was a relief of sorts as we may not know the result in the morning, but we will indeed have a result. The market despises uncertainty and now that vail will be lifted in the coming hours.

I traded some SMN fairly successfully which I am thankful for, considering that's a bearish trade on a bullish tape. Personality deficiency #354, relentlessly fighting tape. Note to self, trade what you see. Next time. I rented a quarter position in FXP and SMN, and these two will obviously be held longer term. I haven't done that in a while but on SMN I see clearly where my risk is, and although FXP broke a bit today I am giving it some rope.

Tomorrow is the big day and I'm wondering if we get a very big sell the news reaction. My eighth grade daughter got the results from their mock election today. K through eighth grade McCain won by one vote and in six through eighth grade McCain won in a landslide. I might add it is a very diverse community. Just a feeling, but Obama might be having a Dewey moment in the morning. Congrats to both though on a well and hard fought race. Now I have to take my little voter for contact lense solution. Be back later. Go vote---for whoever-just do it.


About Me

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I am a former hedge fund manager, broker and capital markets dude who now trades for his own account. I love what I do. I will try to post some stocks and an occasional chart that looks attractive for entry.I will also try to point out the idiocy of conventional wisdom and the lack of value added by the mainstream financial media. These postings should not be viewed as recommendations.