Monday, October 06, 2008

I feel good about bottom today

Loaded up.
Looking at the face of ... (trying to be polite) optimist trader Peter Costa who has been favored by CNBC for yet to be known reason other than pumping “hope” from the floor for the entire duration of Bear Market - so, looking at his face and trembling hands - I decided to move 50% of mine and my better half IRA accounts from cash to QLD, UYG, UWM and some others. ( Still 50% in cash in IRA accounts)
Keep in mind that if latest info on “Short ban” is correct and ban will be lifted on Oct 8th - it is no coincidence with the last day of Rosh Hashanah and Yom Kippur when lots of traders will be back on the floor. Coupled with “unexpected rates cut” it might propel major indexes 10-15% in no time.
That is it for the post :)