Floundering . . .
I'm just not quite sure what to do with this market. I'm usually of the persuasion that there's always money to be made despite the direction of the overall market, but I'm having a hard time incorporating that philosophy into my actual trading.
In hindsight, staying in cash would have been more prudent, and my impatience has taught me a lesson once again. I'm just not sure where to go from here. I own a few stocks that haven't stopped out and I can't figure out whether I should just dump them now or wait for a bounce (that never seems to come).
Charles Kirk has some really dreary outlooks for the market right now. I don't think I've ever seen such unpleasant sentiment market-wide. I still think there are opportunities out there and some people really seem to know how to trade in this market (Nick at My Ambitions as a Trader is having a spectacular 2008 so far). I guess I just don't know what I'm doing.
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2 comments:
Scott,
This is not an easy market to navigate. As someone that does this for a living, I have to trade (no matter the market condition)since it's my bread and butter. So far, most of my stocks have done poorly. If it weren't for two stocks (COIN and VRUS), I would have been in the red for sure. Whatever you do, hang in there. Once things settle down there will be plenty of (safer) long opportunities. This correction is just as neccessary (before a new uptrend begins) as every other one that has preceded it.
Nick,
Thanks for your encouragement. Sometimes I get all girly and emotional. I just need to take my lumps and let things shake out.
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