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.

Thursday, March 12, 2009

Keep in Mind...

Despite the overall bullishness, it is important to keep in mind where we were just a week ago. A few sessions ago, everything seemed all doom and gloom. You couldn't find a single piece of positive news. Even know, a majority of the news is still negative, but despite this, most believe that the markets are oversold and thus, bargain hunters have stepped in. While I do believe that buying some stocks now is a good idea, do not over do it. We are not at a real bottom just yet. Most likely, this is a temporary bounce.

I left my internship early today as I have been feeling a bit sick since last night. In addition, I have a math exam in a couple of hours. I am not planning on adding any more to my current positions. I have already created a position in every attractive stock out there. Until something new comes along, I will be just simply watching.

3 Comments:

At 6:46 PM , Blogger Chad said...

Still an ominous bullishness in the markets?

Curious,
Chad.

 
At 9:21 PM , Blogger Nick M. said...

Chad,

The market may face some resistance at their 50 day MA's (like the DJIA). Also, the VIX has bounced from the 40 level as well. This may lead to a dip in the markets. Unless we can climb above the resistance, bet on the dip. We have definitely not bottomed, so there is no need for too much bullishness. I wouldn't be surprised if the DJIA hits 6000 in the next few weeks. Be careful out there! Take care.

Nick M.

 
At 10:55 AM , Blogger Chad said...

Thanks!

 

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