Tuesday, January 08, 2008

Laying low

I am a political junkie. I love election years, especially ones where it is an all out fight among and between the parties. Lucky for me all of these political distractions are coming at the right time, as this is a treacherous market and being in cash looks to remain the good strategy for the next few months. I'm looking for a bounce, but expect much lower lows to be recorded before a meaningful bottom is reached. As Tom O'Brien has been pointing out recently, there is yet to be any real fear and panic shown by market participants. When that time comes, I'll be buying.

I'm still in my Goodyear (GT) and Cisco (CSCO) trades and will unload when that bounce comes. Mastercard (MA) has yet to breakdown so I will continue to hold. I was stopped out of Bidu yesterday. I still own free shares of UXG and GBN and will hold for much longer.

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