Markets Sell Off Into The Close – Missing The Old Days

May 19th, 2009

Again, another boring day on the whole. Really I’m starting to miss those wild swings of 4% and 5% that we had all the way back in September and October. It just makes things move slower which for some people I know is frustrating. But, we have to remember that trading stocks and options takes time and more than anything else, patience. Don’t let the daily ups and downs take hold of your emotions and ruin your portfolio.

 

As per today’s actions, if you take a look at any daily chart you would see that today was absolutely FLAT. Really the only action was 30 mins before the close when we went from positive territory to close down after a late day sell off. But again the sell off was only of about 40 points or so – nothing to shake a stick at clearly. The re-test of the breakout seems for now to be holding strong. As I looked through my charts yesterday and today I will admit that there are some – not a lot but SOME – stocks which are starting to look more and more bullish. Who knows, by the end of the week I may be adding a couple LONGS to our ultra-short portfolio – just not right now of course.

 

I’ll be back later on with a Trading Video as I am currently trying to finish up the Member’s Only Video so I can send it out tonight. Also, the Option Writers report went out last night. You can still get a copy of it with the 2 Week Free Trail if you sign up before TOMORROW.

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