Monday, January 5, 2009

An Orderly Pullback

"The people will embrace socialism in order to relieve their pain"--Unknown

I didn't make a trade today as I was out and about in some meetings but it looked like a bit of profit taking after the recent rally. I wouldn't read anything more than that. Oil, coal and steel did well and my three picks from the newsletter did well.

I will leave you with a name though. I love EBS over $27 with volume, it looks really ready. Don't buy gaps at open or I will find you. I will be back in the trench tomorrow at full strength.

8 comments:

Jason said...

Is the newsletter in addition to your blog posts, or a compilation of them? If it is in addition, is there a way to sign up without getting emailed the blog posts (I receive them via RSS). Thanks, and keep up the awesome work!

B-rad said...

Do you have a separate feed established to receive a full post via RSS?

upsidetrader said...

jason
different goes out on weekends

upsidetrader said...

brad
dont think so but switching to wordpress soon

vurtz said...

Hey upsidetrader,

Thanks a lot for the insight. I am loving your tweets! I do have one little question regarding above opinions. Can you elaborate on your "don't buy gaps at open" sentence? Does it mean, don't buy gap down, or don't buy gap up? Also, do you have a rule something like "wait one hour when market opens to trade" or along those lines? I am asking this very question because I realized that I am being very impatient about my trades especially in mornings and my most damaging losses come from those trades. As you can imagine I am a newbie :)

I appreciate any opinions!

best
vurtzk

Bob Brill said...

Thx, as always. Great: WordPress, and how about Disqus? I use them both :-)

upsidetrader said...

bob
coming soon

upsidetrader said...

vurtz
i try to avoid the first 20 minutes as stocks will usually retrace to a more reasonable level long or short and i dont chase gaps up or down, let them come to you and they usually will

About Me

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I am a former hedge fund manager, broker and capital markets dude who now trades for his own account. I love what I do. I will try to post some stocks and an occasional chart that looks attractive for entry.I will also try to point out the idiocy of conventional wisdom and the lack of value added by the mainstream financial media. These postings should not be viewed as recommendations.