One of the craziest trading days to date where all major global stock indices - save for Nikkei and Shanghai - colluded in a spooky downslide that most likely sent all the 9 Figure Men in the world running for the hills. Here I am buying the volatility spike I have been craving for days... I even had CNBC streaming live on my computer - something I never do.
At the risk of adding to yesterday's CENX and HERO losses, I welcomed LDK and TGB to my portfolio today. If I had a greater risk tolerance, I would have been adding some of the day's bigger losers such as NILE (-32.80%) or NOG (-16.06%) - perhaps even BCS (-11.20%).
With LDK, I decided to go with my favourite P/B and P/S below 1 criteria. Moreover, the 10-day 15-minute technicals appeared to be aligning for upside based on MACD bullish divergence as well as an imminent earnings announcement due on 15 November 2011.
Overall, I'm currently 54% cash on the SBA - enough leverage to punch back at the right moment if necessary.
-2.51% SBA (CENX -7.97%)
-4.23% Roth IRA (HWD -7.08%)
-3.20% DJIA
-3.88% Nasdaq
-3.67% S&P
-1.92% FTSE
-1.79% Eurofirst
-2.00% EUR/USD
-1.04% GBP/USD
+31.59% VIX
I'm placing Extended Hours sell orders for TGB and HERO...
Tomorrow's going to be a big day with BOE Official Bank Rate, US Trade Balance, Unemployment Claims, US Federal Budget Balance, and commentary from Bernanke, Evans, and Yellen.
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