Greetings from Lisbon Portugal. It is really nice to be here, especially knowing that we just kissed and avoided the blizzard in New York. Hope we will have no problem on our way back! Lisbon is really a beautiful city although one can sense the underdevelopment for years due to poor economy here. Weather-wise it is more beautiful this time of the year compared with what we have in the NY area. Cannot complain! It would be a bit difficult to communicate with local people if you don't know Portuguese. Fortunately my son is very good at Portuguese and we are spoiled by just being following him.
Back to my topic. I cannot help but made some trades today. I think the market is really very close to the tipping point for a significant correction if not a total collapse. I have read some guru's analysis, which indicates that 4 or 5 major momentum indicators have reached the point only seen twice before: both were just before the major market collapse, one prior to Oct 1987 and the other in 1999-2000. I know it is very unlikely this collapse will occur in the final days of 2010 since everyone is so bullish. However, when this occurs, it will be fast and brutal without any notice. I don't want to miss this incredible opportunity. So I traded VXX again and heavily today! Simply buying VXX at the current price will be profitable in the next few months, I believe. For myself, I used more sophisticated option methods so that I can still make money even if it drops another 10-20%.
Looking forward to the prosperous 2011!!
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