Monday, January 11, 2010

Market Talk

Concerned to see futures flying last night because a ) that always invites selling especially in markets that have moved a lot and b) we had dozens of great alerts that we knew would be ruined.

All we've done today is sell partials on our swings in CAT CVX MICC and sold out completely DTG PCU, holding QCOM for longer term -- more fundie pick on their Snapdragon chip. No daytrades (which is astounding -- when do we ever go to 10:45 AM with no daytrades?)

Market needs a lot of time now to regroup. It's time to relax and look for support prices on daily instead of chasing break-outs.