Wednesday, November 14, 2007

Broken Market

Have you ever wanted something so bad, that you thought it just had to happen? Well, that happened to me today. I wanted the bulls to take control so bad, in my mind, I thought it was a given, but that was not the case.

I made a few good moves this morning locking in profits on a few names. My mistakes came when I decided to purchase a speculative name (CPSL) & a momentum stock (RIMM) in a broken market. Luckily for me, I had proper stops in place and did not feel the pain when the sell-off began.

I feel I am over trading, I am trying toooooo hard with broken stocks. This is a broken market, and remains one until it proves otherwise. I am done trying to catch the next move up in the MoMo and speculative names.

: Great optical illusion, give it a few seconds. Hat tip: WSF


Dinosaur Trader said...

Brian is correct, the market is "guilty until proven innocent."

Go buy William O'Neills book on shorting stocks. Time to build a good watchlist.


Wild Westie said...

Often times the best trade is one not made. I go days w/o making a trade because conditions just "don't feel right". This is one of those times, especially with expirations on Friday.