Sunday, February 20, 2011

Slow grind up continues

Visitors and being ill has slowed me down for a spell.

From my vantage point, those who have chosen the right stocks (not the hard part) and held on to them as swings or longs (the hard part for me) are the ones reaping the gains in this market. My daytrading has been a mixed bag, resulting in lots of work for little gain over the last 2 weeks. My long positions have been, of course, going great. Everyone is waiting for the inevitable correction. It may come on Monday, or it may come on a Monday in 2012. I will slowly attempt to add to longer term holdings, as I am beginning to suspect that this slow uptrend will last a long time, even if we a get a 3 day to 3 week or greater pullback. Is long term investing back? Could be, certainly has been working. No one seems to talk of this or expects this, making it a plausible contrarian view. The market is here to cause the most pain to the most people possible... this would really hurt people as scared money sits on the sidelines waiting to get in the and market just does not quit.

What else? TRADE THE BULL MARKETS!!! Precious metal have been in a long term bull market, and in the last couple months have offered ample opportunity to reinvest during a pullback and consolidation. Silver is leading gold and the miners. The miners are the underachieves, so why the bargain part of me says this will be the next part of the puzzle in the PM's bull run, the technical analyst part of me says that we need to see more obvious setups and some validation of strength before stepping in. Stick with the leaders and the good technical setups. Most mining charts are still messy, but showing promise.

Enough now, succumbing to body aches and coughing fits... yuk.

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