What a week it's been. I stayed hot. Matter of fact today is my third big up day in a row. One hell of a way to start this new year. Coming in short I must say it's been rather enjoyable watching the market get killed all week.
So after a great run I will continue to take down risk as I've done all week. Raising some fresh powder and banking some profits. Killing all the men and burning the villages as I fall back into the mountains.
I've taken down two short positions, now three, entirely and also covered some of my CCL short which has worked so well so quickly. I suspect after crashing through this last bit of support that it has much farther to fall. Still positioned to benefit with my remaining position but I'd like to think that I'll get another shot to get bigger in the name.
Having covered all these shorts I find myself surprisingly net long. Net long? Barely. Gold and silver are getting beat on today but I have fresh powder should I decide to buy more next week. Additionally, GENZ is looking pretty sharp and could be breaking out to new all time highs soon.
No need to get greedy or be a hero. I have initiated almost no new positions this week while focused on raising cash. Don't plan to do much this afternoon. The market can go ahead and close now as far as I'm concerned. I'll enjoy my weekend and come into next week with fresh powder and a fresh perspective.
Friday, January 4, 2008
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