Don,
For many on this thread, one of the advantages of being a pure day trader is that if you don't take stocks home, you don't worry about what happens overnight. Actually, most traders might say that down openings are the best for traders, because on gap up openings it is difficult to find a good stock to buy that might go higher. As I am
definately not a pure, 100% day trader, I face market risks each nite and each week. Nonetheless, without these risks, I would have missed out on xx points on dell, on lucent and ge and the other stocks that I held long over the course. This goes toward my feeling that your trading portfolio should only be a percentage of your overall
committment to the markets. As well, my approach is relatively conservative, my portfolio skewed toward the highest quality companies and a relatively good cash position.
Nonetheless, if we are going to extend our visions for the stock market out beyond the next few days, beyond those that will influence the next few trading sessions, what is itthat makes you think that corporate earnings will weaken. I will agree that they can notcontinue at the current pace, or acceleration, but what is it that makes you think they will weaken? Ultimately, I am cautious on the markets, and have been so since dow5500 but what in the numbers indicates the economy and earnings will weaken. By all accounts, the market seems to be heating up if anyting. The Fed seems like the only
coolant around.
Regards,
Steve |
