Wednesday, January 19, 2011

Market Talk

Two notes:  as tweeted this AM sold out of SLW BRCM swing longs in trading account.  Trading account now all cash.

As we wrote here yesterday and for our readers last night -- we simply do not have any good set-ups right now which usually is a great indication that we're in for some choppy action.   If market is resting we should get longs in a few days.  If market is topping we'll start to see shorts soon.  But for now it's a good time to relax and let the others fight it out.

A big part of trading successfully is simply knowing when to step on the pedal and be aggressive, and also when to stop, get out of the car and go for coffee.