Friday, September 23, 2005

Buy the hurricane?

That is my and many other swing trader's conundrum right now. To buy the hurricane or not to buy... that is the question. Not a lot of precedent to tell what to do.

I did buy NFLX two days ago and GLW yesterday on big dips.

Having the guts to buy when everyone is selling is the way to make money in this and any market, but calling the bottom is the tough part.

Will we bottom today or Monday? Or should I just get out and sit the sidelines?

The market is taking energy stocks down today, which to me is one of those little "schizoprenic" moments where the market takes action that defies reason. It seems clear that refining capacity will go down big time at least in the short term after a cat 3 or 4 hurricane hits East Texas...

The other one is taking down Home Depot in advance of what is sure to be a major rebuilding...


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