EDGE TRADER

Tuesday, August 30, 2005

Missed the blog

It's a cloudy day at the beach. Looks like the market staged an encouraging rally. I found an internet station at the library at the beach - in the premarket I was worried about a flat out crash on Monday. We know now that that did not happen, which is a solid sign of either strength or insanity by the market.

Today's open was predictably downwards. I am glad I am in cash for the most part today. The bulk of my long investments consists of Oil, AAPL, and GLW, which are all faring well today. I am not going to try to mess that up by trying some half baked trade.

I will buy at close today and sell at open tomorrow in all likelihood, however. Too much panic out there today to not buy some of it.

Then it will be back to the beach for a great forecast from Thursday through Sunday.

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