*OT*All: Lightened up a little on the close but not much. I've been taking profits in stages on our highest flyers while adding new positions for fall. Fwiw, I'm staying long and will deal with Tuesday on Tuesday.
The market's betting we'll be watching more television and using more gadgets: DISH, WIND, and SNE have been zooming the past few days along with LBRT, IATV and a basket of i-nets and related infrastucures. I expect this trend, along with content plays listed in previous posts, to continue with pauses and hiccups for the rest of the year.
I don't "know" what's going to happen to the general market during September; I gave up "knowing" this past Spring and instead continue to call myself a "Selective Bull With Bonehead Tendencies!" Rande has a terrific "feel" and track record for the market's general ebb and flow ("Flo & Ebbie" Turtle cum Zappa?).
Even in a collapsing market, however, something's going up and I want to be there.
I've yet to play the short side in the equity markets but I do highly recommend Rande's Hybrid Trading Method, especially for taking profits in stages. Again, imo, this helps smooth out some of the inherent volatility (even for us rather slow "position-traders"). I am an unabashed proponent of buy and sell stops, even if this amounts to "broadcasting" one's intentions to mm's and other insiders.
By and large this was another phenomenal week in an incredible month during an awesome summer (how's that for hyperbole?!).
Christin and I will be venturing from the lush, unspoiled, wide-open spaces of Hollywood (!) to Flagstaff, AZ, this weekend so I can eat mom out of house and home like I did for the first 18 years of my life. We'll do some environmentally friendly touring in my Bronco, go hiking, take pictures, and stare at the "real" stars from the town's 7,500 ft elevation (the Lowell Observatory is in Flagstaff).
I say all this because the "Bonehead Update" may be a little abbreviated this weekend unless I can get it all done before we leave. Tuesday morning will find me hogging mom's phone line with a vintage Apple PowerBook and then we'll be travelling home all day Wednesday (I HAVE to use buy/sell stops!).
Thank you, Rande and everyone for the terrific picks, plays, compliments, and support. It's a true Blessing to make friends and profits at the same time.
Have a safe and happy Labor Day Weekend--Mark-- |
