ST trading:
I am getting a bit more bullish every day. In the last 2 days, we've had negative GDP numbers, a sharp falloff in consumer confidence, and the war is going badly (endless anthrax in more places of unknown origin, we can't find anyone, while our enemies are able to find and kill the potential post-Taliban leadership). Any one of those pieces of news could have been an excuse to retest the September lows. And the markets are shrugging off the news. If the combination of those 3 things can't cause lower stock prices, what can? I have had a series of limit sell orders, to lighten up on various positions at higher stock prices. I am beginning to raise those limit sell prices, or just cancel them altogether. For the year, I have near-zero net ST cap gains, and LT gains equal to 20% of my portfolio. Aside from a few shares of EMC, everything I hold is a paper gain, and some of the LEAPs I bought last month are already 2 or 3-baggers. I'm beginning to think it's time to just sit pat and do nothing, let it ride. Certainly, any ST plays will be on the long side. |
