Monday, January 3, 2011

Good Start

A lot of stocks I've been holding began breaking out today.

I'm glad I've been patient.  I sold a few stocks that ripped that I felt were extended.  I probably should have just held.  Now I'm out of them.  However, the ones I sold mostly finished lower.  It's okay to take profits.

 I bought a few new positions and I feel good in that I kept the positions small and I know exactly how much is at risk.  I won't let them spin out of control.   The market is extended but the action is strong in many individual names. 

 I made a few daytrades in TZA which were pointless.  Shorting is not my strength.  Or rather, the market was way too strong... and that ticker is very tricky -- so avoid because the swings are too volatile.  Make the easy trade always or do nothing.

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