August 11, 2010 | In: Uncategorized

Tough Day Today!

I usually check the Nikkei in the evening, and the STOXX 50 in the morning, to have an idea of what the day is going to look like. It’s not looking good. The Nikkei (closed) is down 2.7% and the STOXX 50 is down 1.82%, this is because the Feds have signaled that the recovery has slowed down (Thanks!). Every other week Bernanke talks, and either trims my profits to to near 0, or makes me lose money on my stocks. The Dow futures is now down 132 points. I expect the Dow to close around 10400, if nothing else happens during the day.

I think I will be stuck with my underperforming stocks for at least the end of the week (most of them are financials). What really hurts is that there are some great deals to be bought right now, but I just don’t have the money at the moment…

No more full long positions for me from now till at least the end of the year. I just want to clean my portfolio now from all the bad equities, so that I can split it into cash and some risky equities…

A good stock that I would buy today is CVBF

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