Eric Bolling's Latest Thoughts ~ market folly

Tuesday, October 7, 2008

Eric Bolling's Latest Thoughts

Eric has just written a new brief piece over at Here's some excerpts from it,

"There will be a trade, a time when things sort themselves out, but be wary of recommendations in a really ugly market. This is as ugly as they get -- be warned. Stay nimble, stay in cash.

Cut Losses; Pare Down

My portfolio has been trimmed down dramatically. I took as much risk off the table as possible. Three weeks ago, I thought mid-cap stocks might be bottoming, so I started to buy SPDR Mid Cap 400 (MDY), the ETF that tracks mid-cap stocks.

As the financial crisis evolved and Washington began spinning, I took a fast loss and am better off for doing so.

I also cut losses on Energy Select SPDR (XLE). I closed out most of my energy exposure and remain very light there. I still have, although limited, exposure to homebuilders and financial's. The portfolio is pared down to about 5% equities.

At time of publication, Bolling was long XHB, XLF, T-Bills, and NJ State Education Bonds, although holdings can change at any time."

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