I wouldn’t be able to call my self “The Feral Capitalist” if I didn’t play that crazy thing called the Market.
I am not a registered financial advisor, the following statements are my personal OPINIONS regarding my holdings which I can trade at anytime.
With that said, I sold every position I had when the S&P hit 907 on Monday. I bought lots of positions when it hit 702 right before it dropped to 666. I sold because the return I made was not worth the extra 7 -10% + the risk of me being wrong about the future.
It is my opinion that we are in for another huge swing downward. The bottom is not in until it is tested within a 2-3% margin. Since 666 has not been tested, expect this relief rally to quit around 925 – 975. It might even go to 1000 or it might not. I made all of my losses back from the crash in 2008 and then some with this rally, and that is good enough for this capitalist.
The name of the game for the Feral Capitalist is now the preservation of my capital and that means totally negating risk being applied to it. I did that.
Be aware, THIS IS NOT THE NEW BULL MARKET. If you are buying into this rally without any options to hedge losses, you are INSANE.
Ok, I am out to watch “Star Trek.”
-- Lache, The Feral Capitalist
