MARKET STILL IN CORRECTION.

When looking at a chart of the indices, SPY and DJIA, the market still looks weak and I am waiting for a "follow through" in order to go fully back into cash. The funny part about this downturn is that I am actually still doing very well since only one stock has tripped my 10% sell rule and that was CTRP. Kind of ironic isn't it? The name that is.

BCSI has given me more than a 50% gain in the past couple of weeks especially with the positive earnings announcement. I did take 50% of my original purchase off the table when I reached a 50% target. OMCL continues to make no movement, but I completed all of the buying that I was willing to do between $23.60 and $24 and that totalled $100K. I believe it is waiting for the overall market to follow through or crash and OMCL will follow suit. PCLN is nearing a 10% profit and I will take it if it gets triggered at $82.30. Remember, IBD recommends selling stocks at a 10% profit when the overall market is in a correction.

Another funny factor in my life is that now that I am a born-again IBD trader since July 11, 2007, my portfolio has thanked me even despite this downturn. To prove it, here is a copy of one of my accounts that has bobbed up and down for about 8 months while I kept trying to get fancy. Once I committed myself to the IBD system again, well.... just look at the graph:
(For those of you who have a Scottrade account, I'll bet you can attest to this graph.)


I have also added a Yahoo! link on the right side of the column and changed the color of my blog to match. I hope you like the new change. The text is a lot easier to read.

Good luck trading.
JD