Abbott and Costello could not keep a bit going this long.
Greece is obviously on first with the rest of the PIIGs on second and the EFSF is clearly in the "I don’t know" position on third base. Tomorrow can remain the pitcher as he throws to today and there was no yesterday on Abbott’s team and there isn’t one in the market either as we start with fresh and random nonsense every single day!
At least with Abbott and Costello there was some consistency in the positions but we are literally flipping the switch every few hours these days in what I call the "Bugs Bunny Market" where the retail investor is Elmer Fudd and Bugs Bunny is Lloyd Blankfein and his Bankster Gang of 12, stampeding the investing public in and out of positions by floating rumor after rumor until no one is left but their Trade Bots.
While tedious, this kind of market can also be very profitable. Back on September 29th, I wrote "Finding Bottom" and we turned very bullish in our $25,000 Portfolio, which was already near our $100,000 goal (now well over – see today’s update). I said in the morning post:
While tricky, it is not impossible to trade this kind of action. We are very fortunate to have been trading this exact range on our virtual $25,000 Portfolio and we just had our best 2 weeks of the year, despite the insanity.
What was that range? Why it’s the same one we’ve been trading all year on our Big Chart. It’s not really a complicated strategy. We get bullish at the bottom and bearish at the top and, in the middle, we are VERY CAREFUL. Ranges work until they don’t and then you have to wait, PATIENTLY, for a new range to present itself and then you play that.
We were very fortunate to get a huge sell-off from Mid-September through October 1st and even more fortunate to get the bull run we always wanted(virtually uninterrupted back to the top of our range) in the first two weeks of October. That added a tremendous $30,000 to our $25,000 Portfolio (120% of the base!) since the 29th and we’re doing a cash-out this week with around $130,000 – taking the virtual money and running ahead of the Holidays.