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.
I sold most of my stocks and I am sitting in mostly cash as of now...Today was fine except for the fact that we are still stuck at resistance. Other indexes like the RUT can't even climb above the 50 day MA. The VIX is also nearing 20. We may have one final attempt to push higher in the morning, but I have a feeling that it will fail and the indexes will close in the red. Just my opinion. I could be wrong...
posted by Nick M. @ 8:06 PM
Hello and welcome to my blog. My name is Nick and I am a recent graduate of a top research university. I currently hold a BA degree in Psychology. My main interests are industrial/organizational psychology, HR management and of course, securities and the financial markets. I became interested in trading and investing in stocks a few years ago by pure chance and curiosity. After learning some of the basics in 2003, I began to trade in full force in 2004. Although I've been trading for only a few years, I have learned much about stocks, and analyzing charts in this relatively short time span. My experience and chart reading skills are my edge in successfully navigating the stock market. My strategy and discipline is a blend of trader and stock picker. My style of trading has helped me find some of the current markets top winners in their infancy. In addition to my own personal trading and investing, I also manage assets and portfolios for close friends and family. My goals are to continue to improve and refine my trading/investing strategies in order to further enhance my performance in the market. Eventually, I would like to establish my own investment/asset management firm.
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6 Comments:
Good day to be watching; you're right. Looks like there's an early push into resistance today. I'm interested to see where it goes and interested in what you think might lead the next batch of breakouts.
I just ran across AMZN again today. Have you been holding it since your first entry? That's been a great play!
Yes. I'm holding AMZN as a longer term play. But, I am tempted to sell some today as I am feeling a bit uneasy with the market. I am tempted to sell CATM as well, but will wait for the momentum to cool off first.
I sold my CATM premature. It's been performing really well, long term, too. I mentioned before that I didn't really have any long longs in my positions, and now I'm reevaluating that. I want at least one and CATM would have been a good one.
Don't regret taking profits. The market has one good last push before the VIX hits 20 and that's it. After that we will most likely experience a sell off that will bring the VIX up to at least the 25 level or higher...
There it is...weakness may continue tomorrow and through early next week.
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