04/04

Bought to cover GGP, CMCSA. Sold VZ, CMVT, SNPS. Bought SPG, AMR, GSF, TS. Sold Short CCJ.

One day after preaching patience and confidence, I had the busiest trading day yet. So much for patience and confidence. Yet every trade I made, I looked at hard before pulling the trigger. All the new positions are patterns that look good, technicals that look good. Still would rather not have felt the need, but today's trading was one of the wildest in recent memory. Some stocks looked absolutely indefatigable, and then pish out went the air of the balloon. Or did it?

The Dow did virtually nothing, except repeat Friday's bar. The Nasdaq is still hugging the upper band. But it appears to be running out of steam. Obviously went short too soon on many stocks, but the basic industries hurt the most, with the Dow short term over sold, bought a few to off set the open positions. RTP and PD way too over bought to cover here, but TS provides some insurance.

Look at both AMR, SPG, and GSF. Nice mild dips in good patterns with technicals still looking strong. Tomorrow should be interesting. The only thing that would damped the portfolio tremendously would be a Nasdaq rally. Of course the portfolio gave up all it had recovered Friday with some extra thrown in just to be generous.