Thursday, January 21, 2010


I feel I'm seeing the market well lately.

 I had shorted the market via QID on one of my best up days ever.  I set a stop that was as low as 4 cents away but it turned.

 The next day the markets gapped down and I exited close to my target.  My overall portfolio was hit really hard but there was some recovery end of day and it wasn't so bad at the close.

 What I discovered is that posting my ideas and thoughts on the Mainely Stocks board seems to help me with my trading.  Talking ideas out 'out loud' means I have to be just a bit more analytical and thoughtful.  It forces me to explain my reasoning.  As such, I'm less prone to making impulsive trades.

 I feel that market has reached a top for now based on a number of developments, mostly political, and there may not be such easy gains going forward.  I need to watch out that I don't get bored and try to force a trade.  I have made good profits this year.  If a month or two goes by with no more profits... it would not be a disaster.  The main thing is to focus on waiting for good entries... and finding constructive things to do during slow periods.

 I still think this market is going to reward value so that's where I'm looking.

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