Wednesday, March 18, 2009

A Quick Word on Markets

AM STILL BOGGED DOWN in IRS stuff and keeping my nose to the grindstone but hope to be finished sometime tomorrow. Have also participated some in this past week's bear market rally.

It's been great, but be forewarned: Markets probably topped today, Wednesday, and will fall over the next few days, Thursday and Friday,, and could fall hard again. If you have any profits, take them using tight sell stops. That way if the market goes up, you can stay in. And if you have any losses, cut them with tight sell stops. I did this afternoon.

Friday is triple witching day and options expirations. To repeat, markets will likely fall Thursday and Friday. There will be a great buying opportunity again when this sell-off is over. I'm erring on the side of caution and won't buy anything for a while. Take this for what it's worth. I can certainly be wrong, and often am.

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