Manutius (24.69)

Journal 21 Oct 09

October 21, 2009 – Comments (0) | RELATED TICKERS: IBKR , TKLC , GIS

Terrible day, with everything up a lot at the beginning, decaying all day, then the whole market dropping off the edge in the last hour of trading, despite one good earning report after another.  A bull market that doesn't go up on good news but induces profit-taking ia beary and scary; time to choose which laggards to toss under the bus if its time to raise cash.  CAPs makes it easier: IBKR will be the first to go; TKLC and GIS are marginal. I'm not fond of ENR but it's still hanging in there.  CMP is newly-added but not doing well: it has had a long run in the last month and a half and may be flagging; but I'll give it a few more days to get well.  (Even if the market reverses, IBKR will go if it doesn't reverse with it.)  I need to screen out a financial to replace it. 

Before the late afternoon sell-off I bought AAPL with my remaining cash.