Market Comments Submitted by Nick at Ambitions as a Stock Trader

Submitted by My Ambitions as a Trader and Investor

Big Ugly Correction?

It looks like Wednesday's Big Ugly Close is turning into something bigger and uglier. Anyone ready for a Big Ugly Correction? Ready or not, we may have already begun to participate in a bear market environment. Over the past two days I have been busy liquidating most of my portfolios. I have few long positions left and I have begun to add shorts to my arsenal. The introduction of short positions is a great hedging tool and coupled with long positions, helps reduce some of the market stress on the portfolio. Plus, it helps me sleep better at night. Regardless of what happens, it was a great (and profitable) run. I started late in this bull market (end of 2004, early 2005), so I missed out on some of the prime action. I was also new to trading and investing and I didn't fully appreciate the importance of grabbing trends and breakouts right at the beginning. I suppose I must have been nervous, fearful, or just not ready to tackle those opportunities. Regardless, I have learned alot during this bull market. I know that the next time an uptrend resumes, I will be ready to take 100% advantage of it and plan to continue to share my experiences in the market with the readers of my blog.

-Nick M.



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