Selling This Strength
I have used the recent market strength to exit several positions. I closed my positions in Silver Wheaton (SLW) and Arcelor Mittal (MT). I still remain bullish on metals but I would like to see more attractive valuations before committing money to the sector. I also closed my position in Terra Nitrogen LP (TNH). I would consider reentering TNH below $85.
posted by Big Ben at Saturday, September 01, 2007
6 Comments:
I would be unwinding most long positions at this point, or at least adopting a defensive posture of some sort. Cash is king in this kind of market, and I fully expect a credit contraction to be the cause of a general asset price decline globally. A cash reserve is a good idea, insure with puts, sell calls, acquire "defensive" stocks (JNJ, PG, etc.), and consider yield when picking up stocks. Heavily discounted closed-end mutual funds are a decent idea.
www.robviglione.com
I completely agree. This is a great time for defense. We've been given a small breather from the chaos of August. I think we should use it wisely.
Al
As the aboce note suggest Sto k Markets are also a game.
You need to read the mind of the smaller players and do the reverse to win the game. Its more interesting than counterstrike or NBA. Your money is involved.
Further The Indian Stock Marketsare more dangerous and interesting where Stock Tips, Share Tips, Futures Calls are available.
I also completely agree Indian Stock Markets are also goin down and will see to Long Positions
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