Wednesday, January 7, 2009

Much needed profit taking today

Why would anyone sell in January when they could have taken losses in December??

Stay trading on the long side. Too many catalysts this month for the market to sell off. Currently trading from the long side the following:

FAS
C
USO
SSO
TIF
BNI
LNC (be carefull here, it has gone from $6 to $25 in a month)
MOS
RIMM

While the market seems ripe to short up here, it would be riper near S&P 1050.

--don't use margin
--trade long side only if you have to

2 comments:

  1. AnonymousJanuary 13, 2009 at 2:51 PM

    Hi Tenyear--
    I bought UNG at 21.8, I guess I was a little too early--it's at 21.5 right now near closing. I.m pretty sure it gets to 23 and beyond again. The weather ain't getting any better.

    ReplyDelete

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