Thursday, August 20, 2009
As we go into Friday, Mr. Nasty is
flopping on the deck like a mackerel fresh out of the Atlantic, with Captain Namo swinging the rudder from Minus to Plus in a second and a half, pitching and yawing front to back so everyone is seasick.
While I will publish a nice list of PEAK PERFORMANCE PICKS before the open tomorrow, and the updated stops for all previous GOLD MEDALS, I recommend that all stock long positions carry a stop sell limit no more than 1 Standard Deviation below the current price, or 7% below this months high, which ever is lower. Again, the market is acting like it is trying to go up but has its mind changed against its will, almost a "Manchurian Candidate", if you remember the movie. I think the name is appropriate.
Mr. Nasty and Captain NAMO have that downward bias, so I will roll with that......Gold and Gold Stocks are trying to roll down with it, even as liquidity drains away......but acting as if they are getting a shove upward from something.
Everyone is acting twitchy, and the Nikkei just opened down hard, so lets see what happens, and keep the STOPS in place.
More later.........as they say, "film at 11".