Final Update

This is going to be my last post till November. I am going back home for a little over a month and will not be updating since I will not be watching the market. I need to change my style a bit. From now on I will not be trading for small profits. I was disappointed at myself because I was able to identify the beginning of the bull move but was unable to make the most of it. So from now on I will be trading futures intraday and will hold stocks for all of the move. In order to do that I will have to wait for the market to pull-back to my buy point and once it is there I will make the bet. There will probably be 1-2 such opportunities in a year but the pay-off should be huge.

Kicking Myself

Three investing books that influenced me a lot were; Reminiscences of a Stock Operator, How I trade for a living and How I made 2M dollars. One of the common theme in all those books were to stay with the major trend and ride the minor bumps on the way to make the big money. I should have listened to them. As many of you know I had bought ATPG when it was at 6 and sold it at 8ish...which is good but not great because it is trading at 13+ today. Similarly, I had STEC and FUQI too that I bought in the teens and sold for a profit. Once this market closes above 1020 on a monthly chart, I'll wait for a pullback, will buy stocks and hold those for a long-time. I'm done with this small profits.

9/1

I hope that you guys took some money off the table when you had a chance. Only a fool waits for the top price. We'll see few bounces here and there but the general market is pulling back to support. Once we get to 950-965 range in S&P, it may be a good idea to get in the market.