Took a quick vacation Thursday of last week with a visit to one of my most favourite places, Lake City, Colorado. They have a wine festival out there complete with great wine and wonderful people. If you have not had a chance to get out there I highly recommend the sights are truly spectacular. The best way there is to fly into Denver and catch one of two daily flights to Gunnison which then leaves you with about an hour drive that is breathtaking.
I followed very little in the way of market news while away and am doing some quick catch up today.
I have received much email as to why I refuse to get long many of the names that are breaking out on the charts. I must admit that some of the charts are extraordinarily compelling. The problem I have is that I cannot close my nose and buy. I prefer to marry the technicals to the fundamentals. In this particular case I see no improvement in the employment picture or the income picture. I also see no improvement in the toxic debt situation. I could go on and on but it will fall on deaf ears as so many are caught up in the game of chasing this market.
Thursday of last week, I was stopped out of my FXC position at $94.10 for a loss of about $2 1/4 pts. The same day I was also stopped out of my ANF position at $33.35 about a 1/4 pt loss.
Good speculating and please remember to never forget that "an investor is a speculator who made a mistake and will not admit it".