Yes it is a common practice. It is not a pleasant thing to have to explain to your clients why you are still owning a piece of junk in their portfolio. Clients don't ask you questions about stocks that have done well. They grill you on the losers. Bad enough that it has gone down. Worse yet to have to explain why you are holding it. If you get rid of it, then it isnt your fault. You can always say the stock is crap b/c the management is crooked or something bad has happened to their business prospect, which of course = “it is not my damn fault”. If you keep holding onto it, then your ass is on the chopping block. The clients are smarty asses who think they know soooo much when they really don't know jack when it comes to investing, but try to act that way and love to pick bones with you b/c they are PAYING you, and they think you dont deserve it, or they are institution clients whose consultants are always trying to justify their pay by finding fault with YOUR work. Plus, you dont get paid more by sticking your neck out. So screw it, sell the losers.
SC, do you put much credence in the notion of “window dressing”? It has been said that today is the last day to make sure that transactions show up in “quarterly reports”.
We are in a short term topping process. Expected decline is -2% to -10% over the coming weeks. A strong rally seldom ends with an accute reversal, unless it is produced by external events. Topping process is typically a prolonged process.
Money flowing out since yesterday noon. Bears don't get despaired.
P.S. This is just a minor top. Don't bet the farm on front month options. If we get a -200 dow day, that signals the end of it, not the beginning.
I would really like to see a high next wednesday for AAPL as the AAPLPi ritual comes next thursday
I think it makes sense. Straight up without a pause isn't natural and will have repercussions.
those that are long term bullish better hope the market sells off from here
those that are long term bearish better hope the market continues it's uni-directional move
sounds backwards, but it's what the odds say
April is going to be a very very volatile month
So, it looks like we are going higher then after a slight correction.
$SPX Monthly TL
10/02', 3/03', 9/08', 3/10'=1191.60
http://www.flickr.com/photos/47091634@N04/44654…
Max contain on 60 min holding $SPX
http://www.flickr.com/photos/47091634@N04/44654…
Yes it is a common practice. It is not a pleasant thing to have to explain to your clients why you are still owning a piece of junk in their portfolio. Clients don't ask you questions about stocks that have done well. They grill you on the losers. Bad enough that it has gone down. Worse yet to have to explain why you are holding it. If you get rid of it, then it isnt your fault. You can always say the stock is crap b/c the management is crooked or something bad has happened to their business prospect, which of course = “it is not my damn fault”. If you keep holding onto it, then your ass is on the chopping block. The clients are smarty asses who think they know soooo much when they really don't know jack when it comes to investing, but try to act that way and love to pick bones with you b/c they are PAYING you, and they think you dont deserve it, or they are institution clients whose consultants are always trying to justify their pay by finding fault with YOUR work. Plus, you dont get paid more by sticking your neck out. So screw it, sell the losers.
SC, do you put much credence in the notion of “window dressing”? It has been said that today is the last day to make sure that transactions show up in “quarterly reports”.
We are in a short term topping process. Expected decline is -2% to -10% over the coming weeks. A strong rally seldom ends with an accute reversal, unless it is produced by external events. Topping process is typically a prolonged process.
Money flowing out since yesterday noon. Bears don't get despaired.
P.S. This is just a minor top. Don't bet the farm on front month options. If we get a -200 dow day, that signals the end of it, not the beginning.
LOL… You're probably right on that one!