Dow UP 300 points

[blankcheck]

I moved my position in equity to bonds after market close today. I have a feeling that market is going lose 80% of today's gain tomorrow. I know this is a pretty short sighted strategy, but I have decided to not buy and hold until there is a clear market outlook.

I will move my money back to equity after market closes tomorrow if dow tanks 3+% tomorrow.

Isn't this the definition of trying to time the market?

[sweeps]

I moved my position in equity to bonds after market close today. I have a feeling that market is going lose 80% of today's gain tomorrow. I know this is a pretty short sighted strategy, but I have decided to not buy and hold until there is a clear market outlook.

I will move my money back to equity after market closes tomorrow if dow tanks 3+% tomorrow.

Oops. Dow is now above 7100.

[kork13]

Darn it.... couldn't this series of up-swings have waited another week? My bi-weekly automatic buy-in is going to happen tomorrow, and it just has to be right after everything picks up a bit. nuts.... just my luck.

[Broken Arrow]

Darn it.... couldn't this series of up-swings have waited another week? My bi-weekly automatic buy-in is going to happen tomorrow, and it just has to be right after everything picks up a bit. nuts.... just my luck.

Eh, you might still get your chance. Larger than expected bear market rally, sparked by something that I think is fairly paper-thin. I mean, there are other positive factors involved, but for the market to jump and stay up like this all because of Vikram Pandit's comments seemingly shooing away the specter of nationalization?

Someone please prove me wrong, that this rally is indeed based on some kind of fundamentals that justifies support. Because, if not, I'm planning to exit my trade at the first sign of gains. I've got a limit sell already in place.

Oh, and Steve: I know you've got BAC at $5. I'm not trying to tell you what to do or anything, but I do feel a bit guilty that perhaps I've gotten you into this "mess" somehow. Right now, BAC is approaching $6, and that doesn't seem like a bad time to exit IF you want to do that, AND assuming that you don't see any further upsides.... Again, it's entirely up to you, but... 20% isn't a bad gain to lock in if that's what you want.

[disneysteve]

Oh, and Steve: I know you've got BAC at $5. I'm not trying to tell you what to do or anything, but I do feel a bit guilty that perhaps I've gotten you into this "mess" somehow. Right now, BAC is approaching $6, and that doesn't seem like a bad time to exit IF you want to do that, AND assuming that you don't see any further upsides.... Again, it's entirely up to you, but... 20% isn't a bad gain to lock in if that's what you want.

You had nothing to do with that, BA. I just wish I would have waited a couple more days and bought it at under $4, but that's okay. I actually had a limit order in to sell half of my shares (250 of 500) if the price hit $5.75, which it did today. So I made $187.50 profit on that trade and I'm going to hold onto the other 250 shares and see what happens.

[Broken Arrow]

Glad to hear about your gains!

[disneysteve]

Glad to hear about your gains!

Thanks. Looks like I might have jumped out too soon, though. It is well over $6 now. At least I hung onto 250 shares.

[tripods68]

I purchased BAC at $3.43 @100 shares. But i wouldn't get too excited about the stock being up so much after 4 trading days. We are long ways for BAC post-TARP. Use "trailing stop" to protect the upside in case it go south.

[disneysteve]

I purchased BAC at $3.43 @100 shares. But i wouldn't get too excited about the stock being up so much after 4 trading days. We are long ways for BAC post-TARP. Use "trailing stop" to protect the upside in case it go south.

I agree. That's why I locked in some profit yesterday. I'll be perfectly happy to sell of the rest and lock in some more profit on those if the price starts to slide back.

[Bernz]

Congrats on your profit Steve, I am still holding my small shares and would probably just ride this one out 'til next year. Hey, Dow was up 9% and Nasdaq by 11% this week.