I came across an interesting article entitled The Coming Consequences of Banking Fraud by J.S. Kim. I would encourage you to take the time to read it as it sums up my sentiments exactly. You could also decide to skip the article, vowing not let anyone stomp on a good equity bull buzz and continue to enjoy the party.
Just remember to be sure you blame the dastardly short sellers and unpatriotic doom and gloomers when equities go red. You might also have your congressman/woman's phone number at the ready, so when Cramer screams for you to start begging once again for re-instatement of the uptick rule you can join in the festivities.
And when all else fails you can just refer to your CNBC equity decision making cheat sheet.
Cheat Sheet for Reacting to Market Data Releases:
weak data = Fed ease, stocks rally
consensus data = lower volatility, stocks rally
strong data = economy strengthening, stocks rally
bank loses $4bln = bad news out of the way, stocks rally
oil spikes = great for energy companies, stocks rally
oil drops = great for the consumer, stocks rally
dollar plunges = great for multinationals, stocks rally
dollar spikes = lowers inflation, stocks rally
inflation spikes = will inflate all assets, stocks rally
inflation drops = improves earnings quality, stocks rally
Yesterday I was stopped out of my AMZN position at $ 81.11 for a loss of 1 1/4 pts on 1 unit.
Earlier today I was stopped out of my MMM position at $73.93 for a loss of3 pts on 1 unit.
Good speculating and please remember to never forget that "an investor is a speculator who made a mistake and will not admit it".
Short 1 unit JP Morgan ticker JPM @ $43.66 stop @ $43.66
Short 1 unit Abercrombie ticker ANF @ $33.23 stop @ $33.33