Never Take Your Eyes Off The Market

A few posts back, I voiced that my opinion of the market had changed. Today, just look at what happened. Today the the market indices took a hit that was relatively stronger than usual. In each, they nearly reached their most recent support levels of a couple weeks ago when I had voiced my change of opinion. So what does this say?

It says to me, "don't take your eyes off the market." It is still important to keep a discerning eye on the market. If you recently got into the market, you want to take some time to identify some stops and prepare to bail out. It is particularly important if your stock picks follow a market index. If the index brakes through that previously created support level, it has a better than 50% chance of plummeting. This is not to be a naysayer about the economy, put it is a word of caution to any who are in the market.

I personally had a stop on an ODP CALL that was executed today. Not to happy about it, but as Kevin O'Leary, an investor on abc's Shark Tank, puts it, "Money doesn't have a soul. It doesn't care about you." So what do we do? We swallow our pride on that bad choice and look for the next good one. I am actually thinking that if the market does slip as it is indicating, NG will probably switch directions. In which case, I will lose on the PUT I have on it as well. But the good news is that the stock should rise.

That is my opinion, you can take it or leave it.

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