Saturday, February 16, 2008

Long weekend

This is the first time we in Canada have a long weekend in February, suppose to be nice, just that I have too much work in office that I couldn't take advantage of it..... Anyway....

I bought a bit more FXP at $90.38. As you saw it quickly turned into a loss as of ending of Friday. We still hear positive tune in the market. I couldn't remember where the tune comes from. But I want to say if the tune comes from Wall Street you better second guess again. If Wall Street brokerage firms mainly make money by underwriting old and new issues, they probably would need to make you believe the market will be turning around quickly. Otherwise, how can they make money if you are not buying stocks???

To gain myself more flexibility and control over my own money I would like to sell a bit more mutual funds I have on hand to raise cash for further usage. I think I should manage my own money, not someone else. It means I will have to sell one fund in a loss and one in a gain.

Well but I want to say, it's not about selling at a gain or a loss. It's about take back the control, as well, sell when you should, before it's too late. Even selling 2 more mutual funds I still have long positions, so I'm not totally out from market.

I would like to brainstorm a bit more about the upcoming US president election. I think I have some questions to myself that I couldn't make it clear for now. Maybe I should post those thinking later.

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