September 11, 2006
Reducing Exposure to Energies
If you haven’t sold some of the Oil Service HOLDR (OIH) and the Energy SPDR (XLE), you might think about it here. You may recall my June 8, 2006 post, Oil Services Top is Significant and Has Broad Implications, in which I speculated the OIH had topped around $160. I was right about the top but probably got the broader implications wrong — money is just rotating out of the Energies and into beaten down areas like tech, keeping the broad market even.
The Energy SPDR looks a little better, but I’m going to sell some of this too and rebalance the portfolio a bit. It has had a huge run since late 2003 and it’s time to harvest some gains.
Cat: | Time: 10:11 am (utc+8)
September 11th, 2006 at 10:23 am
[…] ETF Performance Table — Week Ending September 8, 2006 | Home | Reducing Exposure to Energies […]
September 11th, 2006 at 3:02 pm
“Oh Crud” ?? No comprende partner, for you, hope no g. from below
–noun
1. Slang.
a. a deposit or coating of refuse or of an impure or alien substance; muck.
b. a filthy, repulsive, or contemptible person.
c. something that is worthless, objectionable, or contemptible.
d. prevarication, exaggeration, or flattery.
e. a nonspecific, imaginary, or vaguely defined disease or disorder of the body: jungle crud.
f. any unpleasant external ailment, disorder, or the like, as a skin rash.
g. venereal disease, esp. syphilis.
h. Vulgar. dried semen.
2. Dialect. curd.
3. Dialect. clabber.
–verb (used with object), verb (used without object)
4. Dialect. to curd.
September 11th, 2006 at 3:41 pm
pancho: I mean 1c: something loathsome or despicable, as in: this trend reversal is loathsome.
September 11th, 2006 at 8:28 pm
I have read Farley’s book (The Master Swing Trader) and Linda Raschke’s book (Street Smarts) - which I think is a great book not only for the setups but also on the rules of trading. You have mentioned Linda in one of your dummy trades and you use some of Farley’s observations ie NR7. My question is - have you ever read Toby Crabel’s book -(Day Trading with Short Term Price Patterns and Open Range Breakouts)since Linda does refer to his book - if so - what is your opinion of it - I ask since it is a very expensive book and hesitate in spending that much money. Thanks
September 11th, 2006 at 9:53 pm
Vince: I have Crabel’s book and have never read Farley’s … I wouldn’t spend a gazillion dollars for Toby’s book (or anybody’s for that matter) — try to get it through inter-library loan.
September 12th, 2006 at 2:14 am
Vince, there are some russian sites, where you can download crabel as an ebook…but this is not legal…ok, what makes it more difficult is, the site is in russian language… (-:
September 12th, 2006 at 12:15 pm
You can always use translation software, but be advised “crud” doesn’t translate. ;-)
September 16th, 2006 at 10:49 am
Ms. Trend flashed a sell back on 8/28 for the very long term trend but no one will believe me because I didn’t post it! :)
September 18th, 2006 at 10:22 am
[…] Energies, Metals, Materials all getting wrecked — fortunately everyone read Reducing Exposure to Energies last week. Cat: […]
October 8th, 2006 at 11:46 am
[…] … gold continues to blow (the smart money exited a couple of weeks ago), and the Energies are still getting sold (I know you’ve already reduced exposure to Energies). Cat: […]
January 6th, 2007 at 11:48 am
[…] … and came out of the Energies, Metals, and Materials. Trend-followers have been a little anxious about Energy for awhile; I wrote my Reducing Exposure to Energies post last September. Cat: […]
April 11th, 2007 at 9:55 am
[…] The Energy SPDR (XLE) moved to a new all-time high. Readers with a good memory will recall my post last September: Reducing Exposure to Energies. Turns out that was a perfect time to Increase Exposure to Energies. It’s smart to rebalance from time to time, but it’s even better to be humble about times you get things wrong. […]