Monday, August 11, 2008

Another Video - Hesitant to Go Long As Overextended As The Market Is Right Now

Good evening, traders. Tried another video tonight. I may go back and forth between writing posts and making videos and mix them up. To be honest, I am mainly trying to see what would be easier to do from a time commitment perspective each night, as my wife and I have our second child on the way at the end of this year - kind of planning ahead a bit. As always, feel free to let me know what you think. If you like one more than the other, let me know.



I didn't put this in the video, but the Worden Report was decidely bullish tonight. Believe me, I am willing to be bullish - I am just looking for a pullback first. I don't think chasing here is smart. I could be completely wrong however - maybe momentum will just build on itself and we'll continue to rocket higher. We'll find out, I guess. Ok, time to watch some football and olympic stuff. Good luck tomorrow.


6 comments:

Gio said...

Lol... the phone rang, and you didn't pick it up.

Mac said...

Whoa, Gio, you got it wrong, man. I just paused the video that's all. I wouldn't blow off my wife like that - give me some credit man. I was already about five minutes into the video and wasn't going to start over, that's all. I just paused it, talked to her, and then went back to it.

Anonymous said...

Any thoughts on an LDK earnings breakout trade? 40 cents / $287 million was expected, $1.29 / $441.7 million is actual. Jumped about 20% in post market.
I wonder how that will affect the other solars.

Mac said...

It's possible it runs and this could trigger a new trend - I don't know for sure. It's been really difficult to figure out how the market is going to react to earnings recently - good reports aren't necessarily moving higher, so who knows? I am less inclined to chase earnings plays right now than usual.

Anonymous said...

curious what your take is on WGOV, and what the BOP has been looking like.

Would you be able to post a Telechart of this one somewhere?

It's got great IBD ratings, and after a drop or some rest I'd be tempted...

Thanks for your input

Mac said...

The BOP on WGOV is slightly green - it's at 43 out of 100. I thought this might form a nice flag pattern after earnings, but right now it has been a little too choppy for me to consider. Again, I am hesitant to buy anything here until the market pulls back a bit.