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.
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2 comments:

  1. Unknown7:22 AM

    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.

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  2. Nick M.10:17 AM

    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.

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