daytrade diaries... january 13, page-11

Hi Endless, aside from super, I currently have no long-term holdings. At times I have what you might call medium-term holdings but for me that's usually a matter of weeks, rather than months. I'm not averse to the idea of long-term holdings, but to be blunt I'm not great at picking long-term winners, so I leave that to those that can and instead play to my strengths - mainly intraday trading and one-three day overnight holds.

And no, I don't see this week's downturn turning into anything too serious - at least not on current evidence. The market was looking short-term toppy after the Christmas rally. A few down-days will ease the pressure and create fresh opportunities. (Unless of course the Alcoa result turns out to be a genuine harbinger for the U.S. profit season. No reason to think so yet.)