Friday, January 25, 2008

01.25.08 - Gap Up Taken Down

Well, we had some profit taking at the open, yours truly included. I hope you thought twice about yesterday's missive regarding how to hedge going forward. Nonetheless, there is nothing grim here (yet?) given the big move off the bottom we have seen over the past several days.

If it does sell off much harder, I'll probably take a look at putting some back on towards the close as we head into the end of month with all of its potential for window dressing, bottom fishing and fed speculation ahead.

2:50PM CST UPDATE: I think I'll sit tight until Monday unless we really move down hard from here, say below the daily lows. Enjoy your weekend.


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