Freight Train Market
January 27th, 2006 by BWV
My recent “less bullish” inclination has been proven wrong.
Hope that the fourth quarter’s small 1.1% GDP growth will convince the Fed to stop rate hikes has sparked a buying frenzy. Bears are really getting slaughtered.
The NYSE Composite and (of course) the Russell 2000 are hitting new All Time highs once again. Recent QQQQ and DIA shorts are dragging down my personal performance today.. but at 25% net long invested, I’m still having a decent day… new All Time highs in the trading accounts. BTUI and XRTX are doing the heavy lifting today. I reloaded MIND this morning.
I took my medicine in the RKH short.. after drilling down to the component bank stocks in that index (using TeleChart), I realize most of the charts actually look great. Covered at ~ $142 avg.
Microsoft’s 4.5% advance is powering the mainstream indices. I’m nursing my index shorts.. and for now, maintaining them.
Long BTUI, MIND, XRTX
Short DIA, QQQ
