Monday, April 13, 2009

Taking Some Profits

I think we're going to get a little more dose of economic reality. How the market responds to it is still anybody's guess. As a talked about earlier, the market has been starting to respond to unfavorable news in a positive way, which is usually a good sign for investors (or traders actually). I've had a few successful trades, and have been taking a little off for now.

Doug Kass, who was a long time bear turned bull, successfully called this rally. We all kind of felt it coming. He is now growing a little more cautious short term. He still likes the S&P to hit 1050 this summer, but could be a little bumpy between now and then. Here's his post today.

Also, if you're not on Twitter and/or StockTwits, you're missing out on some profitable advice. There are many traders, specifically on StockTwits, giving real time trade info. Completed a profitable trade today from info via these sites.

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