Still Trading

I really like Carter Worth of Oppenheimer. He is a great technician, who has been consistently right on about market direction over the last year and one half or so.

My fake million dollar portfolio has suffered over the last two months, partly because I missed this bear market bounce, and partly because I was just too busy to trade during tax season, so I didn't pay as much attention to it as usual. I stayed short many big names like MASTERCARD, AUTOZONE, and LOWES because even though they did very well during this bounce, they are WAY overvalued. You could also buy the ultra short financials ETF at this point. (only for a short term trade though)

However, I COMPLETELY agree with Carter here for many reasons. If you have enjoyed profits in this uptrend take them now.



On another note, I reconnected with my old managerial accounting professor from Carlson. He has his own consulting firm and does fabulous web design. Check out his blog: http://speroconsulting.com/blog/
Much of the thought processes I apply to problems I encounter today I learned from him. He often used the Socratic method in his courses. It made many an MBA who thought they would sail right through without much thinking squirm in their seat! Great thinker!