Online Stock Trading | Do not get sucked in, markets rebound from Tuesday

Do not get sucked in, markets rebound from Tuesday


Filed Under Market Commentary |

Today was just a rebound effort which is designed to suck in the inexperienced, irrational trader. Do not be fooled and think you need to trade. The Wall Street machine has a knack of tempting the weak to trade.

Nasdaq ended the day higher up .34%, S&P 500 higher by .56%, Industrials were up .43%. Volume was considerably lower on the NYSE and Nasdaq. This does not come as a suprised coming off a day that has not been seen since ‘01.

I’ve moved completely into cash with an exception: bought QID @ 54.00. I am keeping it small, 5% of my portfolio will be my ending position. 95% cash will be my major position. Due to my trading rulse imposed on my employer I can not short any stock or buy an option or derivative to by pass the rule. But, I can buy QID, MZZ, SHS…so on and so forth.

Fourth year without a 10% correction…its been a nice run while it has lasted. This will just clear the path for new growth stories once the time is right.

Happy Trading
Market Speculator

marketspeculator@gmail.com

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Comments

One Response to “Do not get sucked in, markets rebound from Tuesday”

  1. DeMerchant on March 1st, 2007 1:49 pm

    Yeah, Would almost be nice for the market to take a bit of a trashing for a few months and then start it’s inevitable climb.

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