MSmailbox

Gannon On Investing's July 2008 Blogger Roundtable

With the DJIA trading near it's 50-min highs, I am very BULLISH, going into Tuesday. I look for the market to continue setting new highs, over the next few hours... Long-term, into the late-morning, I expect some profit-taking, as investors lock-in profits. By afternoon, I believe that this BULL will continue to run, setting more new 50-min highs, but a lot can happen in four hours, so I'm keeping an eye on the exit. I used to "buy and hold," allowing certain positions to carry over from one day to the next, but since January of this year, I've found that to be rather unprofitable. My portfolio is up over 30% YTD, even though I've lost about 5%, since July 1. Today, I'll be watching to see if the action in solar and fertilizer stocks, continues. Yesterday, some performed very nicely, but that was yesterday, so I'll be looking into other sectors, as well. I *still* think that solar, fertilizer and materials are part of a bullish mega-trend, which could continue for a very long time, perhaps, even into next week! That will afford many opportunities to trade in and out, as they continue to climb, albeit unevenly. It's almost 6 hours until the markets reopen, so I intend to take a well-deserved vacation, then get up early to read the news. The future is very bright, if you can just ignore the flickering.