Wednesday, August 15, 2007

This Market is Buck-Nasty

Wow. Today's market is pure ugly. Stocks that led the way up over the past few months are now getting clobbered. Check out the destruction in RIO, POT, FLR, and PCU. Good thing I sold my PCU yesterday - it's down 7% today. I still have SLB and TM. SLB is holding up alright and TM isn't faring as well. I don't like this market action. I think it's time to sell and let market work out its problems. I may consider shorting if the market bounces in the next few days. I don't have much experience shorting - I usually only monitor high quality, market-leading stocks. Guess I'll have to start looking for some real stinkers.

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