The Morning Morsel

Before this century is over, the Dow Jones Industrial Average will probably be over one million versus around 10,000 now. So for the long-term, the outlook is tremendously bullish if you buy stocks blindly to keep for a century.-John Templeton

Yesterday was a freakishly fun fandango. Most of the traders I spoke to lost money and paid their brokers. The ones that made money were thankful that they did, wild market. The volatility is awesome and personally it’s what I live for. The bears are in control for now and the  bulls better hold 1095. We are oversold, but we were oversold in 2008 too. Still a rental market. Trust nothing.

My Premium Site did well yesterday. Below are some results. We have had a great week and a great quarter with both longs and shorts, and although I am short term agnostic, I am very aware that a rally could be in the offing. We are in a bunch of cash as of last night, and I’m waiting for the next move.

Yesterday:

Long: AAPL +2.50 (+1.0%) UYM -6.0%, XME -2,2%

Shorts: PCLN +5.00 (+2.5%), FSLR +11.0 (+9.0% balance), CLF +1.50 (+3.05), DO +1.10 (+1.6%), RCL +.50 (+1.6%), XRTX +.50 (+3.4%), CSIQ +1.30 (+9.4%)