I am not a believer
By stlplace on Jan 31, 2008 in Stocks
of this market. First is this Amazon bouncing back thing. Then is the whole market went up big, on the last day of the month. My initial sense is another windows dressing like it did on Dec 31. Note for mutual fund, hedge fund,…they all have monthly performance to meet. So take this last opportunity to pump up the stock, and make them look good.
For me, I started a kind of new strategy, I called it “swing”. I bought back some Mindray (MR) which I sold last week, because I had a limited GTC order of $32.98 in my account. This afternoon I sold some Crocs (CROX) when I saw it tried to break $35. And I set up a limited buy order of $32.50 following the sale.
By the way, Crocs just started the SoleUnited(tm) program, which will recycle used Crocs and donate new Crocs to the needy in Africa.
My point is to lower the cost of the stocks I hold. Because I don’t know which point is too high, which point is too low, why don’t take advantage of this market and swing it? I yet to do it for China Mobile, I’m under water on that one now.
