nada

BRF doing okay even with low volume.

Sitting tight

Perhaps after getting your abs punched enough in the market one can develop a little fortitude and be successful after all. Lets just say I am not down fifty dollars no more sucker! Time and price will tell...

ETF scans

Odd for me to do some work on Saturday am but it is nice and quiet this am. First off, I view it as important to trade the markets and what they are doing, not trade the economy and what the numbers say. I understand those that argue about a jobless recovery but frankly don't give a darn about figures.

Having said that there are some warning signs about in the markets. Japan clearly busted its 50 day and has made a lower low. This might be an omen for what near term direction is or might end up being supremely buyable. I am taking it as caution. Recent ETF trades now in mild loss position without clear sell signals, I'm down like $50 in total. I bought into ILF and EWZ, left BRF alone due to low volume. Odd that INP was down when NBR said India was up, another india etf was up on the day. There is some other weakness in charts of regional ETFs. Long term I am watching some commodity ETFs for entry points in energy plays but they are not there yet.

End of life

That crap hurt yesterday didn't it? I am reading a new book, "Freakanomics". Check out this site I learned about from it. http://www.tributedirect.com/index.html

Gun Shy

I reviewed a bunch of charts and see some nice set ups in stocks. I would wait for CEDC to breakout, others that look good here and now are VISN CNO EXXI UTSI HLCS. I almost pulled the trigger on MVIS at 5.1 a couple days ago, it looks in play still. I likely have too much fear to go for stocks but many of those I mentioned have had pullbacks that might go up from here. ETFs that I might more likely buy on pullbacks are ILF EWZ BRF.

I pick up my gun permit today...

Thoughts

I added to INP, sold IYR EWT and XSD as under performers. EWT looks stronger now. I likely would not have bought THD if I looked closer at it then as it is low volume. I am amazed at intraday ETF price movement.

My two hands are still bullishly in the air, gotta wonder if those IBDers at the meetup are still short? This thought comes from a desire to be right, rich, and others wrong. Bad...

I got my second ever comments on the blog. Once again it has nothing to do with my blog, my thoughts, my great trading or wisdom. Instead it seems to be someone that wants to spread some dirt. I do not care to learn the dirt on anyone, it will not help me. I view myself as an ever increasing knowledgeable trader with incredible room to grow. I am capable of the best and worst in the market and have done both. I have listened to others, paid others. But the key is that I am responsible for my money, my trades, my decisions. As far as the past, other than it being instructrive to reflect and change, I prefer to focus on what I can do for me, not what I can do to hurt another.

"The Art of Making Money": A great easy read, not about the market. I read this one on the beach while watching all kinds of fisherman. These guys really reminded me of a bunch of traders in so many ways. Big and little poles, over anxious for small nibbles or normal gyrations, perhaps they missed the real catches due to too much activity.