SargeK ? have you swapped ID's with Post Patrol, or what ?
SargeK; you totally failed to read what I said. First of all; remember something - I was the guy who nailed OSX 90 the day it peaked, I think I pretty much nailed the next bottom on margin, I also was the guy who led the selling at OSX 85ish here of late and I did a pretty damn good job buying into the bottom here again. Yes, I did hit a speed bump in MDR - so what. I won't bore you with all the hits I've made as well.
This is what seems to be totally lost on this thread; everyone wants to be a Monday morning quarterback. Where were you guys last night, or at the open with your posts.
SargeK, what did I say ? I said that I was making a margin leveraged bet into the API's last night and like I allways do; it a news item leads to the market breaking the move in the opposite direction to any substantial degree (substantial degree being the keyword); I allways sell immediately; and I did this am.
This applies to my trading plan - keyword; once again, I have been actively trading all along and this fits my strategy. There are stocks right now that are cheaper, down more than those I sold. I've bought a couple; big position in VPI - because it is a near crude oil pureplay, sold off to the same degree as the nat gas pureplays - and this allows me to make a rotation from my gas plays into oilier exposure; that makes sense both momenteumwise and fundamentally.
I said if you have cash - then by all means buy; that we we in "throw a dart" territory.
I also said if you are a buy & hold longterm investor then by all means don't sell - just hold.
My only "warning" was to not get crazy on margin here.
So what could you really possibly have a problem with there ?
Just when we were returning to a civil exchange of late ?
... Sarge; trust me I own no fab's here long, or short - period. Not even on my watch list here.
If I am a bear; you guys are in big trouble - trust me.
SargeK; I hit a low of 65% cash today; I've bought a large position in VPI here, some XTO - danced in & out of UPR & OEI; I am probably about 85% invested here.
That fits my plans.
I would watch for selling into strength here. Nat Gas is a problem - we need weather to change and i will watch the Nat Gas price tape like a hawk and when its shows me its changing - I'll reload NBL & EOG by the wheel barrow full.
I have price targets relatively close on SII ESV RIG FLC UTI OII NOI HAL BHI here; If we retrace I steal them lower than today; if they don't - this is the key point in my personal trading plan; I have stocks like RGO here - still floundering; with strong Intnl exposure strong crude oil exposure and virtually unique to small caps - a great balance sheet. This is off more than what I sold - so I am not without rotation, or laggard plays to put my money to work.
Hell; I may short a couple of NASDQ whackies here with my remaining cash if I get bored, or if we waffle.
How the hell can you be mad at me - I'm lost on that one ?
SargeK; I make some large short term bets - leverged, like I did last night; I've hit maybe 75% of them of late; trust me - what separates me from the average Joe here; is I do not hesitate to cut a loss very , very quickly when the "play" unfolds opposite of my thinking. I also can afford to write these small costs of trading off, because I have nailed leveraging a few of these prior moves - and because I've taken profits either luckily, or prudently off of virtually every top of late.
What I do, does not necessarially make sense for JQP, or Rory, or you. Maybe they load up today and I get to really steal an individual stock that blows up 2 days down the road... this is not a one day game here Sarge.
Actually; I am making a note of this transgression - and you owe me one hell of a nice bottle of wine at our Vegas Rig party upon OSX 125... maybe a nice vintage LaTache, or Domaine Romanee Conti~ - cost ya maybe 3 large at a nice hotel.
There is plenty of opportunity here folks, today is not the last day you will be able to find bargains. Everytime I've sold one of my fav's like FLC, or SII for example, I think I'll never get another chance to buy it right - but, they keep coming back... time will tell and the "key" is if you miss one, there's usually another one around the pike...
Sarge, mellow out fellow...
I feel better now. Was that a proper & controlled response cosmo ?
PS Sarge, it is not too late to take your 1999 tax decuction. ie: you dump NBL - then rebuy EOG as a non wash sale violation play. Dump FGH - re-buy UFAB,dump PXD - re buy OEI, dump NE - re buy MRL etc... and I never mentioned FGH by the way ? |
