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Monday, June 1, 2009

Oh Baby...

Breakouts galore!!!! And you can bet your ass I'm a seller into this strength.

I am pretty much all but out of the market for the moment, and waiting on opportunities. I currently still have UNG (as I view it a special situation, and F can be viewed as such), but as inidcated earlier will not hesitate to sell at 17-18.

Barring special situations, we are still in the worst recession in 80years, and revenue growth is simply not there. Hence stocks do not merit high multiples at the moment.

So I took profits, and am waiting for trading opportunities to arise. (And they arise every day for a trader so I do not fear missing any potential rally.)

I simply can not justify not walking away from these type of gains.

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