Wednesday, April 18, 2007

Good Morning World

I go into today with a ~40% cash position. It is really hard to guage where the indexes are going to trade from here. I have a lot of work to get done at work, so I am going to limit my trading until I get some work done and let the indexes keep giving indications as to whether the current rally is sustainable.

Last night I wasn't able to run any screens as my wife had me start re-painting a 23x12 room in our house. She didn't like the first color we chose. To tell the truth, I didn't like it much either. Fortunately, I was able to get a couple of setups from Downtown Trader and from Dogwood. I've added 2 stocks to my watch list today as potential longs. I've also added GES as a potential short.

So I am saying that I will attempt not to trade anything today unless I just see some money sitting in a corner waiting for me to pick it up.

A side note- GIGM looks to gap-down at the open, again. One thing I have no problem with is dumping stocks for a small loss before they become bigger losers. What I need to continue working on is letting winners run.

***Update*** Bought 500 COGT @ 13.74

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