Thursday, September 18, 2008
today's stock trades
Today in my fictional stock market account, I was a moron. I held onto my Wachovia shorts, and got hammered by good news and happy talk of mergers and hand holding. I also held onto Ultrashort financials and lost most of yesterday's gains. I didn't buy gold earlier this week so have no happy news there. Goldman Sachs shorts are my only good move at the moment. My uranium mining stock is a stinker, having lost 70% of it's value over the past few months. BRK as my fictional core holding would be good if it was 1992.
In fake real dollar terms, I was up to 110,000 yesterday, and today am down to 95,000. Those are fake dollars, I am not really trading out of Bri's retirement fund.
But in the real world today, since I didn't cash out everything in our retirement funds, I was a genius and made nearly 4%. Amazing.
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Fictional accounts are fine, the Fed is using fictional money. I cannot see how gold will not continue to climb using this rational. If the Fed is dumping tons of dollars via the printing press into the economy and now speak of a new government institution to assume much of the bad real estate debt. It would seem logical to me that would kill the true value of the dollar. So gold should continue to go up. My analogy of what just happened in the market is like a college kid who just found out his parents would pay off his CC debt. Party time!
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