Thursday, July 8, 2010

Cut back...

I sold half of both of my positions in CRME and LCAPA and tightened my stop loss on both of them. Now I have zero dollars at risk if the markets turn around and start dropping tommorrow or in the near future, unless they gap down significantly of course. This is a possibility I would not rule out given the recent turbulence in the markets. Now I feel much more comfortable with my positions. Because neither do I feel as though I will miss out if the markets put in a sustained rally nor I am worried about sustaining a significant loss if the markets turn and drop as they have done repeatedly over the past two months.

I will definitely be looking to initiate at least one short position tommorrow. Visa (V) and Perfect World Co. (PWRD) look very good right now and so these two stocks are on my focus list for shorting tommorrow.

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