I sure wish that this was the middle of the summer
what a time to be in the pool here, or on the Maine coast, or 20 miles offshore trying for Charlie
sure not a time to be sitting in front of a computer trading
there is nothing going on; like, nothing
there is no volume
NYSE not a single 1bil share day all week
NASD volume low as well
the S+P and the DOW just sat, did nothing
the NASD down a few 100 points, 8% or so
the DOW is smack dab in the middle of its 10k-11k (or 9700-11300) range
the NASD did retest the 3400 low, I guess that's good, but 8% down does not bring cheers to the long crowd
I made fewer trades this wek than I have in a very long time
own fewer stocks than I can ever remember
am as close to 100% cash as one can get without closing out all brokerage accounts
I can't find a thing that I really like or have any conviction on, either long or short
things may change after the FMOC meeting, or, they may not
one thing that I do know is that at times like this the worst thing one can do is force trades just for the sake of trading
a small trade here and there and a days pay is about all I want right now
the few I made this week paid for our June cruise; to me that is a very good week
when there is not a darn thing that excites me
why take risk in a trendless market?
why play the hero when it is obvious that the street has no clue what to do (going by the volume and sector swings)
what is wrong with cash?
once one gets into this trading game it is all too easy to trade for the sake of trading
but all too often that does not put food on the table
as the song says: "know when to hold them, know when to fol them, know when to walk away"
Monday, or the week after, or in a few months things will give a signal that it is all clear to trade big again
but I don't see that today
so for now I am going to enjoy decent YTD gains, try to just earn a modest weekly paycheck, and sleep well collecting tiny interest payments on money market funds |
