11-07-2012, 01:58 PM
I am exactly where you are in the thought process and break even state of my SRTY. Been on the wrong end of the channel since I bought it.
I have not sold yet. But Im up 1%. so thinking on it. The question of course is what will happen tomorrow / this week. Here is what Im reading.
1. Fiscal cliff is sighted as reason for sell off. Fear that republicans and democrates relationship will not be any different from the last 2 years. I have to hope thats not true, but from a market perspective its all about perception.
2. Euro trash are acting up again. My gut feeling is the downturn today is more about the Euro then the election.
<!-- m --><a class="postlink" href="http://www.marketwatch.com/story/us-stock-futures-slide-as-votes-roll-in-2012-11-06?link=MW_story_popular">http://www.marketwatch.com/story/us-sto ... ry_popular</a><!-- m -->
3. The Volatility index isnt cimbing at levels that would indicate panic. This sort of defines that the drop is a short term sell off. If so the its a buying op and selling TZA now might be the best bet.
<!-- m --><a class="postlink" href="http://www.marketwatch.com/story/volatility-index-not-signaling-panic-analyst-2012-11-07?link=MW_home_latest_news">http://www.marketwatch.com/story/volati ... atest_news</a><!-- m -->
So...... Whats my prediction for tomorrow and or the rest of the week, along with the rest of the year? I think Im going to sell SRTY today and get out even. I might get back in on shorts or even buy some TNA later this week. For the rest of the year, The fiscal cliff is going to be the big issue. I predict congress will pass something extending the date like 6 months. In the short term we are going to hear one of 2 things. Either the republicans are going to rattle some swordds and tell Obama they are going to be the party of no, (market down) or Obama is going to indicate some sort of a cooperative stance (market go up). Besides that its up to euro.
I have not sold yet. But Im up 1%. so thinking on it. The question of course is what will happen tomorrow / this week. Here is what Im reading.
1. Fiscal cliff is sighted as reason for sell off. Fear that republicans and democrates relationship will not be any different from the last 2 years. I have to hope thats not true, but from a market perspective its all about perception.
2. Euro trash are acting up again. My gut feeling is the downturn today is more about the Euro then the election.
<!-- m --><a class="postlink" href="http://www.marketwatch.com/story/us-stock-futures-slide-as-votes-roll-in-2012-11-06?link=MW_story_popular">http://www.marketwatch.com/story/us-sto ... ry_popular</a><!-- m -->
3. The Volatility index isnt cimbing at levels that would indicate panic. This sort of defines that the drop is a short term sell off. If so the its a buying op and selling TZA now might be the best bet.
<!-- m --><a class="postlink" href="http://www.marketwatch.com/story/volatility-index-not-signaling-panic-analyst-2012-11-07?link=MW_home_latest_news">http://www.marketwatch.com/story/volati ... atest_news</a><!-- m -->
So...... Whats my prediction for tomorrow and or the rest of the week, along with the rest of the year? I think Im going to sell SRTY today and get out even. I might get back in on shorts or even buy some TNA later this week. For the rest of the year, The fiscal cliff is going to be the big issue. I predict congress will pass something extending the date like 6 months. In the short term we are going to hear one of 2 things. Either the republicans are going to rattle some swordds and tell Obama they are going to be the party of no, (market down) or Obama is going to indicate some sort of a cooperative stance (market go up). Besides that its up to euro.
Maul, the Bashing Shamie
"If you want to change the world, be that change."
--Gandhi
![[Image: maull2.gif]](http://bengtel.com/maull2.gif)
"If you want to change the world, be that change."
--Gandhi