Monday, October 17, 2005

Update

I sold my CCO (Cameco) and PD (Phelps Dodge) positions today at nice gains. Reason was because I was only playing a short term bounce, and they reached my targets.

The markets are looking more healthy, and I would expect a broad based rally. However, I will probably observe the earnings that are coming in this week and wait until option expiry is over before adding any more positions. The reason is because I am not good at predicting earnings, and I am not good at predicting how the MM's will manipulate the markets leading up to options expiry.

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