<<I wager that we finish up today. And do yourself a favor, and get rid of margin. We won't have a solid move up until everyone gets the speculative, short term blip thoughts out of their minds.>>
I want some of what your smoking....no way we finish up today. Unfortunately, I am outta here in an hour or so, and wont be back til monday....gonna go get lost in the mountains for a fews days....so I wont get to see the final hour and after hours which should be interesting....nor will I know how things turned out til monday when I get back....but, I seriously doubt we close positive....heck I would be thrilled if we cut the current days losses in half by the close...especially so in jdsu and a few others I have that are getting their A$$ whooped.
Totally agree about getting out of margin...that is my goal....since the first of the year, I have cut margin % from 40 to 20, mainly by quick trades for small profits, or just being stopped out of something with a small profit. My goal is to lose the last 20%, but to do so, I need a decent rise....had we had follow thru today from yesterday to the upside, instead of this carnage, I would have taken a little off the table....as it is, we are back to the ( all my stocks anyhow) lows, so i dont want to sell anything now.......I need a pop to 2800ish - 2900ish and I'll lose some stuff or write cc's.....a move to 2700ish and will lighten up a little....but I do not wish to sell sunw or sunw 03 leaps with sunw at 23....jdsu at 36...sndk 24ish and etc......I am hoping I have enough of a buffer should we tank a bunch more that a margin call won't happen (keeping fingers crossed as I type ), so I am waiting on a decent upmove to unload some stuff or write cc's and lose margin once and for all....except for a daytrade.....the sad thing is....if I had just sold $hit for a loss a month ago and brought margin to zero, I would have had the balls to be buying and selling the volatility and would have done quite well....I would have used that 20% margin for some swing trades, with tight stops, and would have made enough in the last month to eliminate the current amount of my margin.....but I have done very little trading as I dont want to take the chance and go further on margin, so for the most part, I have sat and been waiting....some little trading here and there, but basically waiting for a turnaround......hope your right and we close green, although I think you must be smoking something green if you think we will finish green today<ggg>>.....everybody have a good weekend...me and my aching mouth, aching wallet, lovely wife and beautiful dog, are heading to the mountains til monday......see yall then...and I am glad markets will be closed on monday..........
keith |
