This was a very flat week due to the holidays. The volume on Wednesday and Friday was very light. There were not many trading opportunities when the volume was this low. Volume will pick up gradually after a few days into 2009.
I believe it is important to pay attention to the directions of the underlying general market. I use S&P 500 as the benchmark. NASDAQ is fine. DOW is the least useful since it consists of only 30 index-heavy stocks. S&P index has been moving sideways for the last 4 weeks. Is it the bottom for the bulls? No one knows. It could go in either direction. So which side am I on? I am on the bear side since we are still clearly in a downtrend.
As you can see from my portfolio, I closed my positions in BHI and TS. TS hit my stop loss. BHI ’s volatility dwindled. Other stocks are performing well. Hopefully, one of them will hit its target next week.
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