Friday, July 9, 2010

Why we went long this week

It turned out to be a great call; unfortunately, we did not get paid for it. The stock we picked did nothing. The stock up until this point was a great high-alpha play on the market. This time it did not work. Unreal. It happens in the market. The reason we went long in the face of all our associates (and all of media) screaming short and the bad news is- RSI hit decade lows,hedge funds were not invested, and the S&P500 hit close to our 1000 computer strong bounce level. While most were asking why- we were enjoying our stealth call. Hard to take that we made the call of the year and did not get paid. As the movie says "A low down dirty shame". Oh well......