Deep Market Thoughts…Bupkus!

Posted by Howard
on January 26th, 2009

It has been a long while since I posted my Deep Market Thoughts because there are none worth sharing.

Unless you are a trading whiz (not me) it’s just hard still. I have made a few good trades that I am covering on Twitter (Capital One and Retail – RTH) but look forward to the days of old when we get hundreds of breakouts. We get closer to that day every day that the market sucks. This bear market is going to slice and dice the impatient and I am not going to let myself chase strength or aggressively buy dips. I will wait for the highs to start showing up in force.

Today, I find myself liking only two web/tech stocks Amazon and Netflix (Long Amazon) and looking at Nintendo out of sheer boredom.

The IBD 100 list is putrid and the educational stocks may be leading but they could dive 50 percent and no one would know…or care. In fact, they should.

At the close today I was shorting Apple and Google because they look and feel very shortable. I have a clear idea where I would stop and they just trade heavy.

My Gold Silver and Oil are up but I have no real conviction that I will make oodles of money so I have one foot out the door at all times.

Working on Stocktwits and my other ventures is more productive for the time being. If you don’t just love to trade and have an edge, just go build something. Trust me.

The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.