Sunday, January 29, 2012

Hand off the trigger

Any long ideas got my plate empty at this time.  Of course one could go bottom fishing or looking at small cap / thinly traded stocks; hint (i'm seeing that in the market now) no thanks here.  As far as shorts go, my confidence there hasn't been confirmed with a valid break of our uptrend.  The vix is interesting now however, and shows some promise as soon as this week for a swing trade.  Patience is the key right now in the market.  There is nothing wrong with sitting on one's hands and see how things pan out.  I trimmed back on my longs, sitting 2/3 cash, and will be managing the remaining longs with caution.  In closing, here is the chart of the VIX showing where my target area in the 15.00 range makes sense.


No comments:

Post a Comment