Long Port 1.1 is not yet ready for public consumption. Sticking a portfolio online is awkward to say the least. In a 'sector rotation' would you try to trade all your stocks over a period of 2 days? I would not. . .I would wait until the internets had reached their bottoms and would watch for clear direction on some others. I would look for signs that their movement was temporary or significant and would trade accordingly.
So until the market settles back some, I am keeping Long Port 1.0 and 2.0 open, but removing access to 1.1. I went cash on most [but not all] Inets, as I watch and wait for a bottom. On some, I don't expect a bottom to happen for quite some time, on others, I think it will happen all at once.
If this were a mutual fund, I would have done as I did. . Go cash until clear direction was indicated on particular sectors or indvidual stocks. And I certainly wouldn't set myself up for failure by trading thru an online brokerage. . . I tried to sell nearly every gap on Wednesday morning. If I had extended that to either of the long ports, they would be up immensly from where they are.
For me, NDB would have been out near 90 instead of 70 [now in low 50s], SIEB near 60 instead of 47 [now 30s], DCLK out near 170 instead of mid 130's where it is now. . . and on and on and on. . . if just DLJ had kept their word about providing access to trading of equities.
I paid them over a grand last week in commissions alone.
But when they finally cancelled my "pending" orders from Wednesday morning, this Friday. . .you think they could give a call or an apology or something. . . anything.
As traders, these are the lessons we never forget.
Rande Is |
