The Iconoclastic Investor

To make better than average money in the stock market you have to do something different from the average investor. You have to be an iconoclast--thinking independently and finding the approaches that work for you, not blindly following someone else's program. In this blog I'm refining my own iconoclastic and eclectic ways of thinking. I'm not trying to convert anyone to my opinions or methods--I just hope to provide a useful perspective and inspire some other investors' thinking.

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Location: Albuquerque, New Mexico, United States

Thursday, May 18, 2006

Going Short

I was stopped out of this morning's position in iShares Russell 2000 Index (IWM) and collected pocket change. I realize a rebound can take a day to get in gear, and the Russell 2000 could be 2% higher by the close, but so far I'm not impressed. I entered two short positions and increased a third. I am now short 100 shares in the Russell 2000 ETF, 1oo shares Veeco Instruments (VECO), and 200 shares NASDAQ 100 Trust, the "Cubes" (QQQQ). I first shorted the Cubes a couple of days ago after a rally fizzled. I am now at least partially in synch with the timing service I follow, which is now bearish.

Posted at 1:50 p.m. Eastern time.

posted by Houyhnhnm | 10:51 AM

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