Its time to navigate our trading ship to the bank laughing all the way... guess what I am using. The NUVI from GRMN. I dared to break my word yesterday- of speaking about GRMN at 112 though I had promised to keep my mouth shut until it touched 115. But the crystal ball was right. It did touch 115 briefly yesterday and so honored my blog. No surprize it reached 120 today. Thats momentum and short covering and like I said yesterday the explosive moves begin. But I am not greedy and sold some at 120 and wait for a pullback to re-enter.
It more than made up for my short term loss in ETFC. E TRADE financial - I was a bit chasing the herd and buying at the wrong price- I did mention I am not familiar with this one. I admit I was wrong. Its down 2 bucks at 12. And I am thinking maybe 10 is the bottom. Sometimes better to be safe than sorry, its lowering its numbers so does not bode well for trading. AM watching this week,if it does not move back a bit higher I will take a loss and will move onto tougher pastures.
We have to learn to not get stuck into positions which have an issue and go below our cost- to take a loss and move onto better prospects is a good idea. ITs the toughest thing to do but you can do it if you keep the attachment and emotion out of the trade. YOU are not married to any stock. You got to sell and buy another with an admission of error.
Housing numbers were bad. And guess what housing stock which had recovered nicely last week after the FED meet are all down lower than ever. I am a buyer of DHI at 13 and TOL at 19.5. with a tremor in my trunk... but cant miss the rebound when housing woes are all said, done and done and cant possibly get worse. That rebound is bound to happen- some day. We have holding power so its okay to buy and watch and wait.
The markets are dull - not much movement. My guess is they are lookin to the earnings reports which are two weeks away... already. Uh oh bad time to be holding stocks. So we will re-assess and raise more cash to buy the ones that get punished unreasonably... the best opportunity to buy presents itself every quarter after earnings... for those that beat the estimates handily and still fall. Lookin for CSCO, YHOO, EBAY, BRCM, OVTI to continue upward... into the earnings but if they go much higher before earnings, will SELL and be comfortable with cash.
Thats all for today... keeping watch on the DOW- for a spring up to 14000 and over... to happen soon.. hope you all are with me on that...
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