Satellite Internet Sucks
I simply have had such trouble getting consistent Internet connections, that it has made it very difficult to post regularly here. I will do my best to do a better job of it going forward. It has been all I could manage to place my trades much less do much else when the Internet cuts in and out randomly at the most inopportune times.
To the left is the weekly S&P Chart, and as you can see the world has not ended since my last commentary. I had stated that if that last small pullback was all we got, a good sized up move could be coming. We have seen that, and there really are no exit sirens blaring right now.
We are nearing the time of year when we can usually expect a decline to occur, so I am watching closely right here. However, as long as the commercials stay this heavily long, we should be ok. Today we got a big down intraday move, but they rallied it back most of the way by days end. We opened about 50 down in the Dow, and that is where we closed. Most of the reasons cited by the bears here for a down move are actually bullish indications, and they just do not understand them well enough to see it. High short interest is bullish, not bearish to name one of them.
I will keep close tabs on things, and may in fact bail out when the seasonal tendency kicks in just because of the large gains I have in the stocks I hold, over 20% as a whole just since April. However, you always want to let your profits run, so never take a full position off just for a dollar amount reason. Taking partial profits, if it is part of the plan is prudent. It is not prudent if you think "well I have made alot so I should get out" ... etc..