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DontTakesLosses' August, 2010 Recap and Plan for September:

|Includes: ARM Holdings, plc (ARMH), BUCY, CLF, CTXS, FFIV, LVS, RVBD, TECK
Tuesday, August 31, 2010
DontTakesLosses' August, 2010 Recap and Plan for September:
 
Boy, did that suck? The markets lost 6% for the month. We loss less but still no stellar reports here. I am especially annoyed the IRA is now down almost 2% on the year. Tough market, but...

We use a blend, of the $SPX and NASDAQ Composite, down 7% YTD, as  one benchmark. The other is simply whether we made money or not.  We want to beat both, the blend and our subjective standard. We haven't so far.

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I will keep coming back to my plan posted in Janaury, 1010; Materials, Tech (cloud and wireless), and high end consumer/special situations. Nothing is acutally working now except our areas of emphasis: Agricluculture, like our CF AGU and MOS; Metals like CLF BUCY TCK; and, select Tech, like VMW FFIV RVBD CTXS ARMH (we've had ARMH  in IRA for awhile but don't hold in active account). We also continue to bet on special situations, like LVS. But we'll sell any of these rather than ride them down. Period.
 
We also will keep coming back to the direction of the $SPX to decide how long to be and whether to be in the market at all. We remain on the brink. The more we test $SPX 1040, the more we are likely to fail. We look to be forming a base, but that can cave with NO notice. So, stay nimble and humble...as we may be wrong before we even get up in the morning. Looking for a better September, no?
 
I'm betting on Katie Stockton's Bottom of $SPX 1045, but wow is that tenuous. 60% long going into Sept in the active account.
 
Go Cards.
 
 


Disclosure: LONG all mnetioned