And I reckon they hate me too. Even with strong selling pressure, I continued to hold onto my shares - something I wouldn't be able to do by trading on margin. That is the power of cash, a power that I wish I could hold onto forever. Yet, if 9FM decides not to fill my wallet, the trading fantasy that I have will become as distant as the gap between current market pricing and the price I paid for my CENX shares.
So what are the bears so fussy about? I thought that even if there's no supercommittee deal, there's going to be an automatic across-the-board deficit-reducing plan worth $1.2 trillion? Now, the FWFOCH are threatening to block even this tiny bit of financial dignity we've got left.
If Bernanke ever decides to run for President, he's already got one vote - mine!
Most of my commodity plays closed the day above the 50% daily Fib level and VIX continues to retrace significantly downwards. We touched slightly above 35 today, but it's becoming evident that this 35 level is very strong resistance.
I wonder if I have missed my opportunity to buy a market bottom? If so, SLT is the closest thing I've got to a market bottom and I'm going to have to become chummy chummy with the Omnipotent Maharajas, Born Rulers of the Future Global Financial Epicentre / Inventors of Tremendous Open Outcry Trading Plaisir...
I'm holding onto the rest of my cash as ammunition in case we do see a break above 35 on VIX, which has the potential to trigger a rise to 45 - at which point, I'll most likely buy again.
-3.16% SBA
-2.75% Roth IRA
-2.11% DJIA
-1.92% Nasdaq
-1.86% S&P
Here's today's edition of the daily range on the stocks in my SBA. One of these days, some of these stocks will become the Crown Prince of my portfolio once again... But when?
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