Enjoy the ride
I hope you all had a great weekend.
As usual, we had several guests over the weekend and also I spent quality time with my son "Ace" and my family. Tomorrow (Monday) being my scheduled chemo day, I am already feeling somewhat sick everywhere. Human body is truly amazing. I see no reason for me to feel this way except that I am not looking forward to tomorrow (besides chemo, I will be away from studying the market). Well, as I always say, "You can't have everything".
As per my previous blog, I have sold QID at $15.49 on Friday. Until recently, I felt that we have reached the high (QQQQ) for 2006 already (Nov. 22nd). The stock behavior of late, made me rethink my outlook. I feel that QQQQ has a good chance of making new highs before year end. Obviously, if I think this, I should not be holding QID at this time. Bottom line: Acetrader has sold QID for a small profit. We are still holding GDX - continue holding GDX.
As we are coming to the close of this year, I will be writing about various mistakes we have made this year. Although hindsight is always 20/20, I have made several mistakes that I really should not have. Remenber the main purpose of this blog:
"This site was designed to communicate with friends who share similar interest. The interest in the "free market". Stocks, over the long term, provide the best return on your money. More than cash, bonds and even real estate. Understand that investing is a learning process. We will learn from our mistakes and move on. This is a journey. Enjoy the ride!"
I am enjoying the ride so far - are you?
P.S: I have not sold MATK yet. The highest price on Friday was $24.44/share. I really should not penny pinch here but I will be selling it soon.
As usual, we had several guests over the weekend and also I spent quality time with my son "Ace" and my family. Tomorrow (Monday) being my scheduled chemo day, I am already feeling somewhat sick everywhere. Human body is truly amazing. I see no reason for me to feel this way except that I am not looking forward to tomorrow (besides chemo, I will be away from studying the market). Well, as I always say, "You can't have everything".
As per my previous blog, I have sold QID at $15.49 on Friday. Until recently, I felt that we have reached the high (QQQQ) for 2006 already (Nov. 22nd). The stock behavior of late, made me rethink my outlook. I feel that QQQQ has a good chance of making new highs before year end. Obviously, if I think this, I should not be holding QID at this time. Bottom line: Acetrader has sold QID for a small profit. We are still holding GDX - continue holding GDX.
As we are coming to the close of this year, I will be writing about various mistakes we have made this year. Although hindsight is always 20/20, I have made several mistakes that I really should not have. Remenber the main purpose of this blog:
"This site was designed to communicate with friends who share similar interest. The interest in the "free market". Stocks, over the long term, provide the best return on your money. More than cash, bonds and even real estate. Understand that investing is a learning process. We will learn from our mistakes and move on. This is a journey. Enjoy the ride!"
I am enjoying the ride so far - are you?
P.S: I have not sold MATK yet. The highest price on Friday was $24.44/share. I really should not penny pinch here but I will be selling it soon.
posted by Jaewoo | 8:22 PM
6 Comments:
@Jae,
Hope you are keeping well!
I am on vacation and am still visting your blog. I am using this calm and quiet to read up on some investment books such as "A random walk down Walstreet". Looking forward for your post on mistakes.
-Jo
I am a bit surprised you suggesting selling qid at the bottom of the chart at 51. I would have thought it has much better chance of going up to 56-58 than going down from here. I am not selling my qid and also still have pcln short at 41 and axr short at average price of 125.
Gus
Jo:
Read that one as well.
I strongly suggest a book by Ken Fisher when you are done. Ken & his father is hugh in investment community.
Gus:
As you know, I feel the same way - intermedite term wise. However, I did not like the tape action of late and I felt that I could get QID under $50-51 area. This market is using every excuse to close the year on a positive note. Let's see.
Besides I bought QID at $51 - sold it at $51.49/share. I much rather make a small profit than quickly see a small loss.
As good as my picks were this year, my results would have been much better if I took more profits on the way. I will discuss this in my blog. I, too, feel your positions are well suited. This will not continue for ever ....
You mention that over the long term stocks produce the best returns over cash, bonds and real estate. Stocks(even the lesser known names that you buy)have better liquidity than real estate. Just look at all the "for sale" signs out there! I was also wondering what you thought about shorting GROW.
Jaewoo,
Goldman Sachs ups the 12-month price target of BIDU to $128 today. Do you think it is still a good short target? How about its Jan115 puts?
I also like the AXR short and can not find any shares available.
-Dennis
Dear A & Dennis:
Read my new blog tonight.
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