Selling accelerates and the market in the crashing mode.

Folks,

Selling in the market is accelerating. Compounded by the China market crash, weak durable order goods data, and the concerns over the sub-mortgage crisis, investors are finally selling stocks in a panic mode. This is the correction I have been waiting for.I am glad that my call for prediction (which made me stupid) is finally materializing. I am not glad that my portfolio is taking a beating like never today.

My put position which were costing me much grief lately is coming alive today. My long positions in the filthyrich ideas is getting pummeled. My plan is to take advantage of the put option price rise and take the profit over this semi-crash/deep corrective period and building more long position in the core ideas we cover. I am torn because I love when the stocks get cheaper but I hate when my account balance plunges. Having said that, I look forward to utilizing my cash ( that I have been raising (undeployed portion)) and scoop up many core ideas over the next two to three weeks.

I will outline what names to focus in the near future.

Do not panic (programming selling is making the indexes worse that it should be). Let us look for the next opportunities after this correction.


The current stocks in that I cover are: Filthy Rich Tech ideas (comprised of Openwave, Avid Technology, Tivo, IBM, and Research in Motion), Filthy Rich Biotech ideas (comprised of Amgen, Celgene, Genzyme, Isis pharmaceuticals, Alnylam pharmaceutical, and Protein Design Lab), Filthy Rich Financial ideas (JP Morgan and Goldman Sachs), Filthy Rich China ideas (Focus Media Holding and Ctrip.com), Filthy Rich Transportation ideas ( American Airline and Southwest Airline), and Filthy Rich Specialty Retail ideas (Peet's coffee)

Please check out the archives for past posting on individual stocks. Also market commentary and weekly communication on the core holding list are available at www.investorhives.com on a membership basis. The membership is free for everyone. Simply apply for filthyrich hive membership at www.investorhives.com. Thank you for visiting my blog.