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Pastimes : The Philosophical Porch

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From: Rarebird	9/28/2021 8:06:28 AM
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I had an extremely strong day in the stock market yesterday and am quite confident that today will bring the same results. I am long value stocks and short many growth stocks whose valuations are in the heavens. No, I am not short FANG. They are great businesses and have very wide moats. My portfolio is 60/40 long/short. IYT and IBB are new short positions from yesterday. Short positions are held for much shorter term price appreciation than long positions. Long positions are held intermediate to long term. Short positions are held short term ( in a bull market). By the latter half of the 3rd week of October, I expect to fully long with very few short positions. Stock market tends to go through rough patches during a transition phase. That's because the market is conservative, doesn't like change and takes time to adjust. Declines are buying opportunities in a bull market. It will not always be this way, but it is now. Anyone who thinks this is the beginning of a bear market is off their rocker and knows absolutely nothing about the stock market and what makes it tick.

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