The Ambitious Trader: Stocks, Trading, Investing..My Ambitions as a Trader and Investor

This is a one way ticket that takes you on a wonderful journey into the vast world that is the stock market through my eyes, my point of view.

Tuesday, May 15, 2007

Pullback or Trend Change?

Hey folks,

Anyway you look at it, today's market action was lousy at best. Even during its peak, I noticed increasing weakness in the majority of stocks. I have made plenty of sells today in order to free up funds to initiate some short positions. Have I sold everything? Absolutely not. At least not yet anyway. It is still way too early to know if what we're experiencing is a pullback or the begining of a trend change. Still, I have compiled a tentative list of some stocks that I would like to short. Still, I would like to continue to be long on stocks that have showed some resilience to the markets negative action such as PSMT, VSEC, VCC, etc. The key thing is to make money and thats it. I don't care if it is being long or short.

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