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Pitbull Trading
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Strongly believe in Nassim Taleb's theories. Have a strong focus on the market psychology and behavioral finance aspect of equity trading. Prefer longer term trades for best risk/reward profiles. Still believe Buy & Hold strategies can be relevant in the current market.
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  • Which Way is the Market Headed Next? 0 comments
    Aug 11, 2011 10:49 PM | about stocks: NCT, HGT, SJT, GAIN, MPB, GOGL, FRO, JMF

    With the whipsaw action seen recently in ther international markets, many retail, professional and hedge fund investors are all thinking the same thing. Which way is the market headed next? Do we crash back down to Dow 1000? Or is it possible that the 'speculators' push the markets back up to challenge recent highs? 

    Thinking with the extremely greedy part of my brain I decided that the money would be much easier to make if the market was slowly marched upwards, rather than attempting to crash to further lows. Lets face it, fear and blood were in the streets. Pundits were panicking. Europe is eternally doomed. The USA is no longer considered AAA sovereign credit in a world of easily printed fiat currency. 

    Everyone knows that. The resolve the market has shown in the past few days to battle back from an overnight panic low will absolutely prove that the lows for 2011 are in. I may be a maniac or a pollyanna, but I truly think that now the game is different. Bernanke said safe investments are worthless until "mid-2013" at least. I can smell the greedy money on the sidelines waiting for a chance to put their riches to work. No one likes earning 0% on a CD or T-bill. 

    We will challenge our highs for the year in the upcoming 6 months. The fast money will pile right back in once the theoretical 'all clear' signal is given by Bernanke via QE3 or some positive economic numbers. In the long run, markets want to go up, and money needs to be made. There is always a bubble somewhere, and Bernanke is committed to making sure that our stocks are not going to be the first one to burst.

    Long NCT, HGT, SJT, GAIN, MPB, VLCCF, FRO, JMF (all recent purchases)

    Disclosure: I am long NCT, HGT, SJT, GAIN, MPB, VLCCF, FRO, JMF.

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