Thursday, January 05, 2006

 

Took my profits in TOA

Can't win 'em all: down about $1,600 today. Meanwhile, the NASDAQ keeps rolling on. Either the market is ready for a massive breakout, or it's overbought. My suspicion is the latter. With that in mind, I sold my shares in TOA. I wouldn't normally sell so quickly, but TOA has moved up more than the other homemakers, and I think there is a strong risk that the market will correct in the next few days. I'd rather sit on the sidelines and try to buy back my TOA shares at a lower price. Perhaps I'll regret this decision, but as they say, no one ever went broke by taking a profit.

# posted by Stockcoach @ 8:21 PM
Comments:
come on, your portfolio is microcap, and the naz is tech. they aren't correlated much.
# posted by Anonymous Anonymous : 9:54 PM, January 05, 2006
 
I have enjoyed following your postings the past year -- I hope you have a healthy and prosperous 2006.

Regarding your feeling that the market is overbought: have you come across any worthwhile strategies for identifying short sale candidates yet?
# posted by Anonymous Anonymous : 12:57 AM, January 06, 2006
 
My track record in shorting is very bad so I have a lot to learn. GOOG may be a good short going into earnings, but only as a quick trade.
# posted by Blogger Stockcoach : 4:08 PM, January 07, 2006
 
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