This market doesn't take prisoners...just shoots to kill. WTSLA, GDYS. Here I was worried about holding through earnings. I should amend that to hold... period.. anything is fair game. I'm expecting the carnage to resume in the Brokerage sector.. and I don't think we are done with the internets yet. Although I'm taking home more stocks than even the swing/position traders lately, they are usually the low-priced beaten down variety or well-researched, undervalued growth stocks.
My long term portfolio is now only 30% in stocks, and those are the Health care, drugs, select retail, some office equipment, software.. and still MSFT, INTC.. I'm staying safe, thanks to the remarkable rally last week I was able to restore about 11% profit to some of my holdings. This is a traders market.. For how long, who knows. I'm listening to conservative investors getting burned while traders are walking away with the gems.
'Timing the Market'? well it's the conservative investor who is timing the market... They leave when the stocks plummet selling into weakness and get back buying high.. Traders don't 'time the market' they feed on those that do..
CASH IS KING.. Treasuries, a few select stocks like COST, WAG, LOW and thats it.... Just go with the flow, stop guessing if this is the final bottom, it reminds me of the oil service sector. Everyone is saying it's bottomed..and it's still bottoming. .. Chasing the internets, chasing stocks like NSCP, AMZN, CMGI, YHOO that's fine, but they are up today and down tomorrow.... |
