TGIF.........

Last three weeks has been the-most painful week of my investing life........

My investing life includes 5 year bear market from 1972 to aug 1977 when Dow went from 1000 to 760...where I held three stocks which went nowhere but down...they were MF (Massey Ferguson...a tractor company like John Deere of today),RI (Royal Industries...auto parts maker) & WFI (Wheelabrator Frye...Pollution control company).....All I could do after 2.5 year of holding these stocks was to use as collateral to buy a brand new Car in Canada in 1974.......

Then I saw 1987 crash........

Then i saw 1990 slump.....

Then 2000 rout.......

But all of them looked pale compared to last 3 weeks of down..down..& down.......

So the moral of the story is...that you need to be READY for a decline like what we have seen lately......never overexpose yourself to market decline........

Pull profit out of the market when you have gain........

I know...I have emphasized all this before...over & over...but there is a need to repeat again.....

Today my portfolio gained 2.5%..not bad considering 1.2% loss today in my Canadian $ short position...which went against me today.....otherwise my gain for the day would have been 3.7%...

Luckily my portfolio was UP 3.3% for the week... mostly through my being short Canadian $.......a major accomplishment considering the horrendous downdraft we had in last week....

AAPL moved above 50dma on very heavy 49.4 million+ volume closed UP $2.09....

RIMM moved above 50dma on extremely heavy 57.3 million +volume 250% more...comfortably trading above 50dma in AH.......Up $4.56......

FMCN "my superstar was UP $4.92 on very heavy volume above 50dma...reports AH monday"

SINA closed UP 2 cents after making a "triple bottom".........

Among other stocks :

FSLR UP $21.68 (Jimmy the Cramer told his TV audience on thursday "do NOT buy until $170 " .....on friday he was trying to weasle out of his thursday retarded call........closed @ $212...

GRMN UP $13.51 on signing a new long term agreement with NVT and giving up on Tele Atlas..

BIDU was "surprisingly weak down $12.71"...do not follow closely so do not know why ????

NCTY was taken to the chopping block on ER....down $10.12.......

I think we all need to "recover from a very traumatic 3 weeks"......

I will NOT be posting any list of weak/strong or momentum stocks......as everything looks weak...So NO saturday post......

Try to rethink your investing style based on your own performance for the year ...so far....

The ONLY advice I will give is that you need to know about the stocks you invest or trade in.....then you will develop conviction...which is absolutely critical for today's environment...getting stopped out is NOT an accomplishment.....imo

BLOG does not give buy or sell.

Next post monday around 845 AM.

Have a relaxing weekend....I need to !!!!

Saleem