Wednesday, September 30, 2009

State of the Market - 9/30/09

Gotta go soon but some quick points....

I sold out of the rest of my holdings with the Dow down around 50 this morning. I just didn't like the "follow-through" since Monday and the stocks I had weren't doing anything. CGA ($11.71) and PDS ($6.42) gave me small losses while BX ($14.17) gave me a very small profit. Basically I thought the possibility of the selling picking up was high and didn't feel like sitting through it - I felt cash was a better place to be. I didn't consider shorting anything however.

Today was obviously a crazy day intraday and I really don't have a clue what it means in the short-term. Your guess is as good as mine. The next two days may be news-driven trading with the jobs report coming out on Friday. Those days are usually tough, so I may just sit out here until the market figures out what it wants to do. I think the potential to get chopped up right now is very high, as seen in the intraday action. So be careful out there.

Gotta go. See you tomorrow.


bmbull said...


Hope all goes well with your procedure, and that it isn't anything serious.


Mac said...

Thanks BMB - some swollen nodes right now and just doing some tests. Don't know much yet. Hopefully just an infection.