A serviceable target at 1027.75 has surfaced as a worst-case low in the E-Mini S&P. It doesn’t sound bad enough to me to be a realistic worst-case number, but I’m just going strictly by the book. The implied sell-off in the Dow would be about 100 points.
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Sell half of the Akamai position now, around 22.45. Officially we hold 200 shares with an adjusted cost basis of 16.73. A sale at 22.45 would give us an an adjusted cost basis of 11.01 for the remaining round lot.
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Behind the Shell Game Lurks a Black Swan
by Rick Ackerman on October 29, 2009 12:07 am GMT · 10 comments
When we half-jokingly talk about DaBoyz and how they are continually manipulating the markets, we sometimes lose sight of the fact that they really are out there, rigging the game so that they cannot lose. However, even as these Masters of the Universe maintain quasi-criminal control over the short- and intermediate-term swings, they understand as we do that there are larger, uncontrollable forces lurking in the form of black swans such as the collapse of Lehman Brothers. A post in the Rick’s Picks forum from Mario Cavolo » Read the full article