I've got a bad feeling about this . . .
Every day this week has been crazy with the ups and downs of the market. So far I haven't been dinged too badly, but there have been some mornings when I was down 3%. We're starting to hear the doom and gloomers trumpet the end of all things again. I wish I was an emotionless being and could just focus on the 10 stocks that I own and quit worrying about everybody else. But, alas, I just can't do it.
First the power was out and then my internet connection went out and has been out since Tuesday That has helped me from looking too much and being influenced by the large swings this week.
I stopped out of three stocks today and I feel pretty good about where I got out. I lost nearly 16% on one this week which is my largest loss this year. Ouch. Fortunately other stocks have picked up the slack.
I don't feel like it is time to run to the sidelines, yet. Some of the market indicators that I follow still look strong. It's just kind of weird out there right now, so choose your poison wisely.
1 comment:
Scott,
Agree that the market is behaving unusually. Screens I run/follow simply aren't working well - lots of sideways movement and some losses and wild Swings (look at POT - I stopped out of it this morning and then it gained 20% from it's day low - argg)
I attribute a lot of it to earning's season. It's a very difficult time to trade. You can make a lot one day and lose a lot the next. Makes the market go wacky. Personally I think earnings season is looking like a good time to have more cash on the sidelines.
Keep up the good work on your blog!
Roger
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