Monday, September 17, 2012
Markets are in a choppy zone. This is where you should lower your profit expectations and take profits quickly if you have one. If a stock you bought is not working as intended, cut loose. Don't let small loses turn into big ones. I would be very selective in any new stock purchases at these levels. The number of stocks showing up on my bullish scan is dwindling. Having said that the Fed induced rally is still intact until we see heavy selling in large number of stocks accompanied by volume. Your portfolio will be a good indicator of the nature of the Market. If your portfolio is struggling to show profits it is about time you tighten your stops be prudent. Only 3 stocks showed up on scans on the long side.