Sunday, August 4, 2013

The naive believe everything . . . but a wise man looks well into a matter.

I ran across the quote this week “The naive believe everything . . . but a wise man looks well into a matter” I believe it is paraphrased from a verse in Proverbs 14 and it has stuck in my mind. I hope it sticks for a long time as it’s a good reminder to me.

It’s easy to be casual with investing or trading, but unwise to do so…at least this has been that case for me. I can look back at bad trades and bad investing and often see that I did not “look well into a matter”.

What did I see in my weekend review?

The 10-yr Treasury yield now 2.60%

IBD (Investor Business Daily) continues: Market in Confirmed Up Trend; citing “Yet, the market does not show any buckling” …and “Market indicators show positive readings”

Copernicus Systems continues: Long, but still mixed IMHO.

Moneys Flows: 
2/3 portfolios are still trending down in money flows, but all portfolios are still in positive territory. Taking a closer look at the one that has been stubbornly trending upward the ones that appear rising in the rankings are: ALTR, AMGN, AAPL, EMC and JBL....interesting I think.

Currently my "Stocks for a Trade" now consists of:

YHOO   -.57%

PCLN +.19% will likely sell this week

BIIB +1.61% now positive

ETF’s for a trade are:

QQQ +4.15% up nicely now

XLF +4.93% 

IBB +14.61%

SPY sold this week for a modest gain

IWM +5.04%

XLY sold this week for a modest loss

What will I do?

I will sell PCLN this week before earnings on the 8th. It seems that some price action will occur with earnings. I could hold it and buy more if it falls, but I bought it to ride the momentum and it has  left me in an awkward position and the future is not clear....time to sell but will likely revisit this again

I sure like what I see in ALTR, AMGN, EMC and JBL, but I don’t plan on any new positions at this point

I hope you have a great week.

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