Thanks Lang,Only way to make a killing in the market is to stay in a position long enough to let it run it's course. As you may know I have repeatedly supported scaling orders both on the buy and sell portion of a trade. That being said for the current positions I am holding which represent a Significant profit I am always looking to l;ock in some gains along the way. My inclination right now is to maintain these holdings and I am bolstered by the market weakness friday afternoon. Moreover GE's statements are very very troubleing for the market going forward.
General Electric (GE), a powerhouse component of the Dow Industrials, sent the latest shiver through markets Friday, in this ongoing Bear Market. It reported disappointing first quarter profits, and lowered projected earnings for the year. The stock is down 12 percent mid-day Friday, April 11th. Further damage was struck by the news that Consumer Confidence fell to a 26 year low.
We continue to see lower highs in most major averages since October, the exception being Trannies, but they are showing signs of reversing their latest unconfirmed rally.
When the trannies go south the trap door will get crowded. So for now I am happy to be sitting on such large gains for 2 days in the trades and I anticipate to add to my gains going forward. As always Cheers and my thoughts for Good Fortune to all. Now I am going to pop a few Sam Adams and enjoy the Masters! BTW when has Fatso given any winners such as I have the past few months??????????? This is NOT a traders website,just a scam to get subscription fees.
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