Trimming Down...

With the market all over the place, I decided to trim down on my positions and sell for some profits and some losses (PRGX and BZC). All of the stocks on my watchlist seem to work for a day or two and then they start to fail. It seems that the only way to play the current market is by day trading and that is not my style. No thanks. I'd rather sit on the sidelines and wait for a definite trend to emerge. It can be up or down. I don't care. As long as there is a trend, then there is a way to profit from it. This lateral or sideways trend is a great way to lose your shirt. It's a dumb play and I've learned to pass on it and wait for better opportunities. The worst thing you can do is lose all your money now trying to press your luck and not have any left when the next bull market begins.


Update: 12:52....By now it should be obvious that going long is becoming less profitable than just sitting on the sidelines or going short. Different market trends require different strategies. In a lateral market it is sometimes better to do nothing at all. What you should be doing is paying attention to the charts of the major indices and their support and resistance levels. If the DJIA hopes to regain its up trend, it needs to reclaim its spot above the 50 day MA (around 13600-13700).

Several Stocks that are doing well: BLOG, WRLS, VSEC, SHMR