Tuesday, June 12, 2007

Virtual Office, $5106. Dow, -129.95, 13295.01.

Misstrade, $3432 on 5300 shares traded.
Me, $1230 on 29,200 shares traded.
Dehtrader, $386 on 18,200 shares traded.
Denarii, $40 on 2400 shares traded.
Evolution, $18 on 30,200 shares traded.

That's what we like to see, not one red VOer today!

Anyway, as I mentioned in yesterday's post I'd be careful short term in this market. The rally that began in March (after the February "panic") is in danger of being killed here. Distribution days are piling up on all the major indexes. Bounces, such as the one that came on Friday, are coming on light volume while the selloffs are coming on higher volume. Not healthy action if you're a bull.

That said, a minor correction would be welcome... markets don't go up forever. Taking a step back would be good. Back to the VO...

Misstrade continues with his winning ways, while I had a pretty solid day myself. That brings me back into the green for the month. It would be nice to begin to build a nice cushion again so I could feel comfortable taking more risk... especially if we're going to decline a bit here.

Dehtrader had a solid bounce-back day after having a discouraging loss yesterday. Denarii makes in 9 in a row and ET barely eked out gains. But, as I like to say, green is green.

Tomorrow should be an interesting day. Lots of data out including the Beige Book at 2pm.

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