Thursday, June 30, 2011

sold today


I must say … I was VERY proud of myself … I called the bottom within 30 minutes of it happening, a little lucky … but made some great money off of it as a result.  What is even neater for me is that all my mentors were wrong, which shows my analysis is getting significantly better these days.

I actually sold a ton of stuff today for 2 reasons …

1)      I'm skeptical being the last day of the quarter that we have had such a move over the past 3 days … I am fearful that tomorrow (7/1) we will have a dump.  The big guys do a lot of moving their money around at this time of year to make their quarterly statements look good, and I'm sure they all want to show a positive for the month end.  Whether the momentum continues tomorrow or not will be seen.  I actually think it will, but …
2)      Since I am going away, I want to be mostly in cash just to eliminate the stress in my head.  I will be watching the market at a minimum twice a day (open and close), but since I won’t be watching it every minute … I don’t feel comfortable being fully in.  probably have about 30% still in the market … all long.

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