Sunday, July 17, 2011

..…A Little Hasty

Last weekend I pointed out that since mid February the market has actually been going sideways but with some significant up and down cycles.

I think this was, and is, correct ...but I sure missed something obvious and important. 

This was that there was good chance of the market currently being headed to one of those mini down cycles. Unfortunately I re-entered with some purchases and it looks like I now need to correct that action.

So what did I see in my weekend review?

IBD (Investor Business Daily) now indicates in their Current Outlook as: Uptrend Under Pressure

Last week I was mistaken when I said Copernicus “is now showing to be short … in my interpretation (This does bother me a little)”  …but that does seem to be correct for this week

On Monday I picked up AXP, AMZN, ARBA, BIDU, but did not pick up QCOM …I also added HHH and picked up AAPL and SPY  .

I will likely sell all or at least most of these on Monday…will decide the final resolution in the morning

Currently my "Stocks for a Trade" now consists of:
(All gains or losses shown are the total since purchase)

AXP -1.39%

AMZN -1.69%

ARBA -5.77%

BIDU  +1.40%

AAPL +2.41%

ETF's for a trade are:

XLV  -2.2%
IBB  -.57%
HHH -2.21%

Have a great week.

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