Why? I don't see how this sell off is going to have any legs to it with the dollar making new lows:
i don't disagree, it's just a matter of how much beta you want to have. i've got lower-beta plays like long JPY and CHF and AFBIX which i see as hedges against USD and general market meltdown. i change my mind a lot, too. already i'm wanting to add back to VLO after seeing the inventory numbers (and now that the stock's given back a few bucks).
one problem i have right now is that a lot of my assets are in IRAs, and my biggest IRA is in trader jail (settled funds violation). the violation itself is so stupid don't even ask what it is, but the upshot is i can only trade settled funds in this acct, so if i sell something it takes three days before i can buy something else. this puts a major cramp in my style and i feel like i'm trading on Dilaudid. i did get lucky in timing the exit from SU and overweighting COS, but i am shooting myself in the foot five times for every good piece of luck.
upshot, i should be back at 50-per pretty soon unless there is a big move. cooling my heels in the meantime.
You've got to be at a crazy level.
my default level is around 50, but i will hit 70 or 100 if there's a sufficient swoon to "take off the gloves" (they don't stay off for long, though. i'm a scaredy cat at heart -g-.). that's one of the nice things about sitting on a big cash position--cash as a percentage of PF goes UP as the market goes down, so it becomes easier to be aggressive. my problem this time is that much of my "cash" was actually in things like FXF (CHF ETF) and FXY (JPY ETF), and that was taking 3 days to clear before i could buy again.
COSWF and PWE are the only laggards that I found attractive.
have you compared PWE to names like ERF, HGT, SJT? i have positions in all these (inc. PWE), as well as AET.un, PEY.un, VET.un. none of the positions is very big--i have just taken the attitude of spreading it around a bit. |
