Yesterday, I longed some stocks. Back and forth, in and out, I cut some losses but at the end of the session I held on to some stocks overnight. Today, I am going to either cut loss first thing in the morning or take a little profits if the market allow me to and I shall watch. The current market is directionless to the the public where it's hard to profit from it unless one is skillful enough to intraday trade the big caps.
Money is of no importance to me and cutting losses is the path to enlightenment. My honest advice to all is to preserve capital, be patience and only trade when there are clearer indications. If I need to let you know what will I be doing today, I will be watching. I will only action when I see traces of unloading/loading.
Ronald K - Market Psychologist - The Big Speculator
