Stagger Action

I don’t particularly like the tone of the market, at least at the moment. Plus, The PPT is ranking some inverses “buys” for the second consecutive day, following the second ever OVERSOLD rating on SDS, following the 10,000th (it seems) 3.00+ reading on the Overall Hybrid. Putting the hubris aside, we are significantly over-bought. Howsoever, that doesn’t mean we will drop like a stone. For precautionary reasons, I tightened up a bit here, selling out of MAS, QNST, trimming a few others, and adding to FAZ, in a fairly significant way for my personal. Essentially, I am asking for a pause here, in order to better evaluate the market later.

At the same time, I bought some EXK, FORM and SOHU. They look so fucking good and I really hate missing out on anything. You don’t get it. When I see a stock go up without me, it angers me to no end. My entire day can be ruined with a 5% move up in some dick-faced stock that I have on my watchlist. That’s why, especially in this market, I buy first, ask questions later.

Having said that, some of my positions are under water. I am looking at 1-6% losses on several names. But that’s part of the game, so I accept it. Sometimes you need to stop worrying and trust your original instincts of what got you into the stock, sort of like test taking. Everyone knows it makes little sense to second guess oneself when taking a test. If you marked A and have no idea if that answer is correct or not, don’t change it to C, just for the sake of changing it. For most of my losers, I will keep the losses limited to 10%. Until then, I will go about my business, shuffling the decks as best I can, in an attempt to catch some timely trades.