where are the prophets of doom today, page-29

I must admit I did think that the markets would have gone down Tuesday and today. They haven't and I did miss out on making some money on all these days due to me thinking bad times are ahead.

On the flipside I got out on Friday, and the stock I got out of is trading 5% lower. Yes it did drop 10% and I could have made an extra 5% but in reality I am still up 5% from Friday.

I am a short term trader, and 1% represents a good day for me.

I still think that their will be bad days ahead i.e more correction but definitely no crash. My aim will be to pick those days and make my wages.

Having said that it is too early for people to say that the correction is over and only good times lay ahead.Yes, we have dropped more than the dow since the correction and that is all good for us as we have factored it in better than they have.

BUT ask yourself, if the problem is in the USA and in reality their market has only dropped 3.2% and ours 4.6% right now, doesn't that worry people.

We all know that Americans are money hungry and over confident people and so shrug things off and move forward BUT reality is their economy is slowing down and now with these latest credit issues there should be a real area of concern.

I'm blabbing on but in the end the question is do you want to be conservative or greedy?

I would err on the side of caution at the moment.

The great thing about the market is money can be made in a bear or bull market. Selection is the key.