I told you we were going higher, didn't I? Yet, some of you kept shorting last week or all of last month, practically volunteering to stand outside of a 7-11 with a cup in your hand. Banking coin isn't free, you have to earn it.
Yesterday, patience rewarded those that held onto CTIC for a +46% gain (not to mention an extra +17% on Friday). I believe I did mention a few days ago that it was my largest position. BZ was the 2nd largest gainer at +18%. MRGE was the biggest loser at -9.5%.
In the end, I am up just over +160% YTD, my all-time high for 2009. I also started off June with a +13% gain. Those that bet against Warmaster Horus and the Chaos legions were swiftly defeated, while the resistance unwillingly received 'the Mark' and became cultist slaves. It's a tough business being a short.
As for the market, there's a reason why I was (and still am) in 100% small caps. The RUT was the highest performing index, up +4%. The SPX finally made it over the 200-day MA via continuation gap, and the DJIA is still bumping up against it. Likewise, if you looked at the world market indices, as well as the US market's individual sectors, it should have been plainly obvious which direction we were heading. Stop making this game so difficult for yourselves.
You can see the new short-term range locations for all of the indices. Today is very simple. I do expect a pullback, but all we have to do is not cancel out yesterday's gains. Then again, most of my picks don't follow the general market anyway, so who knows.
No comments:
Post a Comment