Thursday, July 26, 2007

In the Mouth of the Whale

An ugly day in the market!  With an hour to go the Nasdaq was down 75 points and I wondered if the last-hour players would step in and drive this thing into the ground.  Instead, we got some buying.  Interesting.  We've come down very fast.  Much like the last pullback in Feb-March.  Seems very "countertrend" rather than a change in the primary bull trend.

I felt good having sold all of my mo-mo stocks wednesday morning on the bounce.  Those stocks were punished again today, and I was even tempted to leg back in to some.  But patience is a friend of mine...

Been swamped at the day job this week

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