August 2011 will go down in history as the worse August in 10 years. However, the glass is half- full. Stocks are beginning to have some traction.
Dow ended the day up 53.58 (+0.46%)
Nasdaq was also up 3.35 (+0.13%) Barely up but we'll take it.
S&P 500 up as well 5.97 (+0.49%)
We blew it today with Corelogic (CLGX). First we panicked, then we got greedy. As mentioned yesterday we shorted 9,000 shares. Early morning trading CLGX just jumped. We got out of the position sort of. We keep 4,500 shares. Then in late trading we had the chance to close out at $10.97, but got greedy. Held ground. CLGX closed at $11.42.
My watch list which was posted two days ago is doing well, with the exception of BAC. It just keeps going up. We were happy with MTG which was down 0.20 and with CIS, down 0.41.
Tomorrow is the day BAC goes down. More problem mortgages. Why did they buy Countrywide? Nothing but lawsuits over questionable foreclosures, robo-signing a bad loans.
The blog is about trading stocks. Most of our trades are short sell. What goes up must come down. It's a matter of when. We will give an account of each trade.
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