Wednesday, February 16, 2011

My Blahing Schedule Is All Messed Up...


... but my portfolio's definitely hotter than ever! I left you at the height of trading plaisir, but I think we've still got a lot of trend riding ahead of us.

It seems to me that this is the time when fundamentals don't really matter all that much. Retail sales were not better than expected and the market still managed to rally - probably since the bears are starting to realise that if they're going to cut their losses, they might as well do it now. The USD has been going up, which just indicates that demand for USD denominated assets is still strong.

I think the turning point of this market will be when stuff such as my recent trading blunders (IDGG and EATR) starts really skyrocketing. At that point, I might look to take profit on everything - depending on the market conditions at the time. At the moment, I'm not going to stress myself out with following the fundamentals so proactively, nor am I going to give myself a hard time if I don't get the fundamentals right on. I'm not an economist, nor do I want to be one. But I'm in a trend and I know as much. So, fundamentals may not be as important at this stage, although I will still look to news announcements for potential trading opportunities. Essentially, I'm throwing fundamentals out the window and just enjoying the fact that I decided to trade my Big Bank Theory with such conviction, albeit two years too early!

Even though I regrettably sold some shares in C a while back, I can now start treating the entire banking sector as one big trade. So, altogether, I still could say that I've got thousands of shares in the entire banking sector. If all of them go to the $50s, that's one beautifully breathtaking trading strategy with a lot of profit taking potential.

Yesterday's Report Card:

-0.81% on the SBA

+2.04% on the Roth IRA (OMG in a very big way, led mainly by BCS jumping on the ForexDiva & Her Cronies bandwagon with a +6.36% Look At Me, Girl overture)


Today's Report Card:


+0.20% on the SBA

+0.08% on the Roth IRA


Who knows? With options expiry on 19 February, I may or may not be on thin ice over the short term. But as long as I am able to maintain my shares in big banks and sell when the fundamentals are really in overdrive, I'll be OK and life will be good. Right now, though, there are still plenty of buying opportunities. If only I had more moola...



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