EDGE TRADER

Friday, August 05, 2005

How do you feel before getting a shot?

Nobody likes getting a shot. One of the most heartbreaking things is to take your kid to get a shot. I remember going with my sister one time. This was especially difficult for my mom because for some reason my sister knew upfront that she was getting the shot that day. First she didn't want to go, then she didn't want to get in the car (she didn't buckle her seat belt because nobody did in 1980), then she started whining in the doctor's office, a look of pain on her face, as if someone was jabbing a red hot poker on her backside. Well, I had to go in the doctor's office. I was too young to wait outside. The whining, crying and general chaos continued until the doctor came and delivered the goods. Instantaneously, it was as if someone turned my sister off like flipping a light switch. Today the market is on its way to the doctor's office knowing it is about to get a shot. Monday it will be whining and whimpering a little bit. How crazy Monday gets will depend on how well our parents (media, brokers, and advisors) do to calm us down. Then on Tuesday, Dr. Greenspan will walk in to the office and give us the shot. Then all will be better, and we can resume business as usual with a smile on our faces.

How did I fare today? I Woke up this morning with the trading portfolio in cash and stayed that way almost all day. Due to the weakness in the market I couldn't resist buying in to some oils at the close today. Sorry Greenspan, you've got nothing to do with crude futures so you can't hurt me. Na na na na na na! Here's my picks: Bought BHI today - it has been on my watchlist ever since my intensive research in the oil industry. Only today did it finally drop enough for me to get in. Also bought FST today. I was contemplating expanding my position in XEC due to some weakness today, but in the end ran out of time. Thanks to the cleanout yesterday, I survived the down day with only a modest decline. Tomorrow I will run week numbers and am hoping I beat S&P at -.6%. My mistake du jour would be continuing to hold a few certificates showing I am an incredibly small owner of a mining concern in Peru. I will do what my parents (see above) recommend on Monday with the stock. The nearest profitable exit is probably Wednesday morning now. With some luck I XEC and FST will guide up on Monday, and I will be able to provide my FST shares to some intrepid investor who wants to buy a company with improving prospects.

1 Comments:

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