Pancho- "That is right! Asia is all screwed up but that is too far from our shores! We are OK in a perfectly balanced situation!"
Smart post. I just don't see the conditions for large numbers of people to liquidate or even lighten up on their mutual funds or 401-K. I just admitted that even though most stocks are overvalued, a sharp correction doesn't seem imminent (understatement?). So, admitting that I'm wrong, putting my ego aside, I covered all my shorts: ACLY, BFIT, WDRY, PCTY, YHOO(ouch), SPEH, NSPK, LAMR, ONSL. At this point I'd rather sell these lower when the momentum has changed. |
