All the wrong moves
I'm about to give this market up. Every time I make a decision lately, it turns out to be the wrong one. I can't believe how many head fakes we saw today.
I bought a stock yesterday that went up 15% today. I sold it after it had dropped back to 5% and it went on to hover just about 2%. I thought I was pretty smart to get out, and then things reversed again and on it went back up to 7%.
I just ate two chocolate chip cookies to make me feel better. Maybe I should REALLY sit this one out for a while.
Maybe this is just a really hard market to trade. If it is, that's good because it teaches how to handle future difficult markets.
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2 comments:
I was YTD up 70% in July and am now YTD up 30%, so things are no going so great, but I'm way ahead of the indexes.
Scott,
This is a hard market to trade in. It's not just you. I'm feeling it and so is everyone else. I thought we would close in the negative for sure and next thing I know, we close positive. Go figure. Anyways, this highly volatile action should be expected as we are either in the midst of a market top or a heavy (but brief)lateral move before the next leg up. This action is very similar to Feb of 2006. Still, we'll have to see if we head higher or begin a downtrend. Best of luck to you.
-Nick M.
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