I’d rather he move like GBP/JPY… But unfortunately, my most recently rebalanced portfolio, the SBA, seems to be moving like the Dow today. Just when I thought the Roth IRA needed more work, the Roth IRA started to pop, but I’m not complaining. Sultan BCS gave my Roth IRA a visit today and the result was titillating. The good news is that I’m finally starting to understand the importance of positioning, how I need to be positioned, and how to move around in the market for greater trading plaisir.
Report Card for the day:
+0.34% on the SBA
+1.12% on the Roth IRA (don’t you wish your portfolio was hot like mine)
Even though NFPs were not better than expected, a few of my other bimbo observations have become trading reality, which gives my trading ego a bit of a well-deserved stroke:
Investors moving out of emerging market funds and getting back into the US and Europe… I mentioned this on 13 January 2011.
I firmly believe it is only a matter of time before we have a really great Non Farm Pay Day, but unfortunately, I’ve been confused on a few plays as well.
Harry confused me like crazy, but I did identify $9.99, $12, and $20 as potential erogenous zones. So, it does seem like $12 has been holding so far. I wonder aloud: is $20 going to be on the table this year? Can’t read my, can’t read my, can’t read my Poker Face, Professors.
ZZ… I plopped right down on the mattress and prices ran the other way faster than I could say: you do yoga… I’ll do pilates…
Penny stocks… got into IDGG, which popped over +40% one day in either late December or early January, but has retraced by about 30% since then. I'm not too concerned as that position is worth a few mini lots, but still, I hate being wrong...
So I’m going to do the following with my penny stocks.
1. Segment the full position into three lots
2. Once price triples or quadruples, sell one of the lots, which would then give me my original trading capital back with a small profit
3. See if the rest of the lots could potentially become trendships with benefits
4. I promise myself I won’t average in on any of my penny stocks!
This weekend, I’m studying the market indices and devising a new buying strategy. My friend Tim was commenting about how all these analysts are wrong 50% of the time and don’t get fired. Well, when you think of it, if we only buy at the right time, but don’t sell at the right time, we’re doing the same thing as well. So, now I’m going to find some more short term plays and work on my greatest weakness. I'm going to learn how to sell at the right time! It’s going to be so exciting and I can’t wait for Retail Sales on 15 February 2011. That’s going to be my biggest day of the year – or one of the biggest days, anyway! Online retailers probably will benefit most from the recent weather we had, so I’m going to be a Fair Weather Friend and look into online retailers to see if any of them are undervalued + overlooked. If not, I’ve got another top secret strategy to experiment with. If you're good, I might tell you next week.
Happy, Happy Weekend!
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