Monday, January 12, 2009
Kellogg - K
A friend asked me to have a look at Kellogg for him. (ticker K). The long term view (top chart) should help by giving one some perspective. The daily (chart above) paints an interesting though negative picture. Watch out below if this recent consolidation breaks it's lower boundary.
My friend Dennis Gartman had an interesting comment recently, which reminded me not only of his humility but also of his wisdom.
"As we have long said, there is nothing materially wrong with being wrong, there is something very materially wrong with remaining wrong.... and we are when our positions are unprofitable."
I suggest that you all read and re-read this statement as it will save your hide in most every endeavour. Business, trading, warfare, sports. etc. Very wise counsel indeed.
Good speculating to you all and never forget that "an investor is a speculator who made a mistake and will not admit it".
Long 2 units Ultrashort MSCI EAFE ticker EFU @ $89.80 stop at $84.67
Long 1 unit Ultrashort Financials ticker SKF @ $102.60 stop @ $99.47
Long 1 unit Ultrashort S&P500 ticker SDS @ $66.15 stop @ $63.77
Long 2 units Ultrashort Real Estate ticker SRS @ $55.23 stops @ $47.93/$51.68
Short 1 unit Darden ticker DRI @ $27.70 stop @ $30.12
Short 1 unit Apollo Group ticker APOL @ $86.55 stop @ $90.83