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.

Wednesday, August 19, 2009

Taking Profits...

So far, I have been rather unimpressed with the new wave of stocks breaking out. I am noticing a lot of low quality, low priced equities breaking out. This has made me a bit nervous and is hinting towards an upcoming downtrend. Because of this, I spent the day liquidating most of my positions. I was a bit dissapointed with GRRF, but overall, most of my positions performed quite well. Even if the market rallied tomorrow, I would not have any regrets. I have booked some decent profits and cannot wait until more opportunites arise in the near future.

2 Comments:

At 7:22 AM , Blogger Unknown said...

I echo that, Nick. Time for a breather for sure. Some of these Chinese stocks went too far too quick, no harm in letting things settle.

 
At 10:17 AM , Blogger Nick M. said...

Andy,

For now, I may dip in and out of a few short term trades. I am waiting to see high quality stocks breaking out before I jump all in.

 

Post a Comment

Subscribe to Post Comments [Atom]

<< Home

Enter your Email


Preview | Powered by FeedBlitz