February 07, 2006

Nice Timing!!

Last night I mentioned it was time to take some profits in oil and metals (commodities).

At noon today, most commodities are down 3 percent and the stocks are down 5-10 percent. Sometimes you get lucky - punk!

Lately, as I trade less and sit back more, the markets seem easier to follow.

I hope that I can keep it up.

Other than some Apple last night, I am nibbling on a few oil stocks (GW) and looking at an asbestos play that has been pummeled today (GRA).

The real key though is to look at market strength as we enter corrections in the market, which we are definately in. I mentioned a week ago that the eighth tier China and Indian stocks were doubling overnight. Never a good sign.

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