I'm eager to put on aggressive trades but the market continues to offer very little. There was a little bounce following an unremarkable interview of President Obama that has moved the market closer to flat, but once again there is very little interest in chasing stocks.
I'm sure there are readers who disagree with the way I characterize this market, but my style of trading is to react and to run with the crowd rather than to anticipate and look for turns. Many market commentators find this sort of action favorable for accumulating positions.
Personally, I have no interest in buying stocks unless they are showing signs of momentum. Ideally, I want to see an increase in volume as an indication that a stock is being discovered. My main concern isn't buying a stock when it is at its low but buying it when it has the best chance of making a big and fast move. I want to catch the meat of the action and don't care if I buy the low and sell at the high. There is always another opportunity, so booking profits and moving on helps me to keep growing my trading account.
Right now, I'm growing very restless as I just can't put much money to work with my style since there is so little momentum. I'm still holding a few things I've mentioned lately like First Solar (FSLR) and Security National Financial (SNFCA) but I'm more inclined to take gains as they become extended rather than buy more.
