Hi Sonny,
Today we have cristal clear skies and 24 degree over the Po Valley! Cool and crisp summer day.
Last week was quite hectic! I sold SGP, Mrk, Ko, Cl, Pfe, and few other shares in my long portfoglio, took a profit, and bought back lower. The last trade was SGP pn friday. Sold at 95 and bought back at 91.5. So far so good, but I think I will not repeat it again. Nice to nibble, but never bite the bait! gg
I am still up 6.3% on my long portfoglio this year! (I was up 38% end of July.) Not a nice gain, but better than nothing! When you sit on INTC, MSFT or KO for year over year, what is 30% loss! Where I am hurt, is my daily trading portflgio. I am sitting on MSFT, PFE, INTC, Dis, etc. that I was supposed to get in and out in one day! I got in but will not get out any time soon!
Here no body is really gives a penny for Russia. Russians,( or shall we say Homo Sovieticus!) is lazy, spoiled, and used to being hand fed by the Government. For 70 years over leaders told us how Russians are fed up with the Communism. Well, it was a lie. The common people liked it and deserved it. Since the end of Soviet regime, apart from a few smart decendents of Ostap Bender Panikovski( a fictatious Russian crook of the NEP area!) in Moscow and St.Petersburg, most Russians
are hurt. They are not diciplined enough to adapt to the new ways and rather have a strong State control. They prefer bring back the old system. Zuyoganov and his communists friends in Duma have sensed that! This is a historical moment for them to reverse the progress made in the past 8 years. He is now prospsing his own candidates for the job of the prime minister! Sonny, it is a mess and I wonder how
deeper it will cut inot the market?
Best wishes,
Yaacov
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