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Tuesday, May 4, 2010

UNCLE

Ok, Ok, I can't take it anymore.  I cried Uncle today and sold most of my remaining positions except for BCSI. (This includes all my mutual fund positions in my 401k). Holding on to BCSI is irrational since the market appears to be in a downtrend.  My technical side is fighting the fundamental side.  The potential gain in BCSI is pretty lucrative, yet the downside can be high.  The drop today is on high volume.  There are still 25 mins to go before market close.  Maybe I will sell it after all. The hard part now is going to be to stay out of the market when the rallies occur.  It seems like we should buy when the market drops a lot and then sell into the rally the next day when it pops.  But I think I will just stay out for a while.  Of course, I still had my option positions that are dropping rapidly in value.  But I may let them run and take a chance on expiration since I still have around 3 weeks to go (but they are now turning into pure gamble plays)

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