Monday, March 02, 2009

Another Manic Monday - For The Bears Anyway

It certainly seems like Mondays have been treating longs cruelly, doesn't it?

Earlier today, in my intraday update, I said:

On a sharp moved down today, 300 Dow point or more, I'm going to dip my toe into the long side. I think the bears are a little too giddy these days.

Alas, we fell only 299 points. I hope I can buy (or sell) something tradeable tomorrow.

How about this one:

General Electric might be worth buying-and-forgetting-about. It closed at 7.60 today.

Though I admit I have 'LIKE NO' enthusiasm for long term bets.

If I buy it, I'll be out at 9.00 or 10.00.

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