Monday, January 11, 2010

Swing Bling (quick exit for now)

I don't have anything brilliant to share, so I'll keep things brief.

It may or may not be late in the game for this rally (brilliant!). And while I'm not going to fight the larger trend (certainly not in a January month), for the time being I'm not looking to invest in it either.

I'll keep a swing-trade approach for now.

Today's open then turned out to be a perfect exit-point for taking profits. And while I was selling with both hands at the open, I wish I had been selling with both feet as well. Regardless, I've lightened dramatically and I can do almost anything from here; as things develop.

...Or I can take time-out to drive to Mavericks and watch the market from my phone instead. Maverick's may see 40'+ waves by Wednesday; which seems more exciting than near-term prospects for trading; at least at the moment.

Total Position: 100% net-long, 16% invested (down from 57% at Friday's close)
Currently Long (according to size): CML (5.3%); CISG (4.3%); WATG; (3.8%); VIT (2.8%)
*See the Twittspitt for details on today's exit-sells

Currently Short: no current position
Futures Accounts: No current position

Mavericks photo by Frank Quirarte©; January 10, 2010

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