Mostly took this day to reduce risk. Took losses in ARAY, LGF and MLNK. Made a little in AMED, CEDC, and GCI.
I added to PLNR which closed at the lows on low volume. I can live with that for now.
The market was very mixed. I became concerned when I noticed the steep fall in AGO -- suggesting there's some distress in municipal bonds but there was no news.
YHOO started out weak and finished strong. They report tomorrow. I still think there's a lot of value there, regardless of earnings.
With the Dow so close to 12,000 -- chances are it crosses the threshold, but then what? Based on the people I follow, caution is warranted. I'm getting some confusing signals so it's not as if the market is about to correct but it's not necessarily strong.
When in doubt, protecting profits is top priority. I also took a loss in LGF which had insider buying.... but it closed even lower. As much as I like fundamentals... I find I do better to listen to charts then fundamentals. So with all my sells -- I got rid of several weak names and no longer have to spend time worrying about them. Having this psychological burden of holding losers is very helpful -- allows me to focus on the next winner.