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Politics : High Tolerance Plasticity

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To: chowder who wrote (19965)	7/25/2003 10:39:51 AM
From: chowder	Read Replies (1) of 23153

These markets aren't responding to good economic news very well. We're also stuck in a trading range currently and a trading range at these high price levels don't instill confidence in me or my abilities to continue showing profits. I liquidated most of my portfolio this morning. I will wait for a decent pull back or I will wait for the indexes to break out to new highs. Trading ranges at these levels may cause others to start locking in profits as well. Trading ranges at lower levels was profitable for me only because there wasn't much profit taking for others to take. There are at these levels. Yesterday showed the second distribution day in a week. Another one or two of these days and we could see a decent drop. Distribution days are indicative of institutions selling off. I don't see any sense in fighting them. I'll let things settle down or work out before jumping back in. dabum

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