Wishful Thinking

Going into this week, I honestly thought we could spark a rally that would last more than a few hours. So early this week, I positioned myself with a few longs with my biggest positions in RIMM, AAPL, & GOOG.

Tonight, I find myself with a nervous feeling about where we are headed. Even though we had great earnings from a few of the above companies, I still have an uneasy feeling inside. My game plan tomorrow will be to free up cash and sell my positions.

This is not the time to hold swing trades and party like it’s 2007, this is a time to be quick with your trades– in and out.

It’s important to be unemotional within the market, and listen to what it’s telling you. This week we had a bunch of emotions flying, so it’s easy to be distracted, but if you listen closely, the message is clear– mother market is having a heart attack.

Today is turning out great, this morning I went long FAS and decided to hold every one of my longs, including AAPL. I also sold out of my last inverse ETF, FXP.

At the moment RIMM is breaking out, and gave you numerous alerts to jump in, still not in? What are you waiting for?

NXG, small cap Gold stock from video is also breaking out, I decided to put my money where my mouth is and buy some @ 1.05. Also, watch AEM.

Don’t forget about MDT, BTFO territory.

As for FAS, I may hold this one for a few weeks.

Note: Jake “owns” the refiners.

I took proits on the FXP trade today. I like my chances buying this morning’s dip, MSFT numbers blow because they are no longer relevant, AAPL & GOOG are killing them.

I like my chances going long here.

Note: How many chances will RIMM give you for an easy entry?

Click link for HD video: The PPT is smarter than you

Call me crazy, but I want to be long a few stocks here.

RIMM looks fantastic (I own it), and I want PALM to die (I’m short).

JASO is dirt cheap, I like ENER here, & CLNE holding up well (long all 3–those are my alternative names).

AAPL gets no love, nor does GOOG. I believe both reports will be better than expected and one should take a look at the companies (again, I am long both).

I believe we close the day strong, and as you can see, I’m talking my book.

http://www.screencast.com/t/FF31hCZ9Gop