Tuesday, August 30, 2011

Slow times

Well, the market has broken from this consolidation,


so we will have to see if the move holds. I have taken just a few positions, the best being PSEC which has been on for a while though I sold 1/3 for 5% and 1/3 for a quick 12% gain, and yesterday BAC was a good daytrade, and I held half overnight, but sold for breakeven today. I just bought some AKRX. I have also had the same amount or more of beak even and tight stop out trades, which is fine. I am inching forward. This is not a market to give anything much room or it can really run away from you. I will just keep slowly building positions as the market continues to creep up, but will move stops to breakeven as quickly as possible, and will be ready for a breakdown. This is just a time to keep warm, ride the bike, take some practice shots, and hope the game starts back up soon. No telling at this point.

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