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.

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