10/15/2009
Been a while since the last post. If you call a top too early, you are simply wrong. The best line learned from Cramer is "diversification is the only free lunch."
While I've continued to cry SELL! It has been too early. (i.e. wrong). Hedging my short positions with call options has kept an early call from being a drastic call. Diversify, hedge, whatever, it means the same and works. Always be protected.
However, by tomorrow afternoon, all hedges will be lifted and diversification thrown to the wind. (I will use stops of course).
Google did blow out the numbers and should take this market over 1100 S & P. 1107 should be hard resistance. 1125 is my stop. I am giving a lot of leeway for the stop.
The market is tired and leadership waning. (GS, IBM).
Without going into the fundamental reasons why banking and the economy suffers with high unemployment, etc, etc, etc...or post technical charts, I'll merely say SELL!!!!
Welcome to the Great Bear Market of 2010, 2011.
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