BEARISH ENGULFING or just BULL-SCHIT?

First of all - my humble apologies for not providing a timely update on BSML. When the volume is gone so am I. Nothing worse than being held hostage in a turd that trades by appointment. And besides, 20% or so isn't bad for a few days work (pleasure). However, my opinions of this company haven’t changed and recommend keeping it on your watch. Anyway, back to the subject on hand.

The Trend is your FRIEND?
As you can see my previous picks already covered and done with continue to go lower. Did I miss it? Yes and no. After a good dump it's always a good idea to wipe (ewwwwwwwwwwww). In other words, don't be greedy and take some profits. The remainder of your position is just gravy. If it goes against you some you can cover or just add to it and then ride it down peeling it off (covering some) as it continues its journey to the SEPTIC.

Who woulda thunk the 3rd week of April the very same week I started this blog would have spelled the peak of this "Bull Market"? Fact is the whole market's been getting hammered since then but nobody really knows if it’s going to continue or what direction we're heading, Bull or Bear. And this is really what I'm getting at. There is no trend at this present moment. I can't tell you if this is the beginning of a Bear Market or just the Bull suffering a healthy pull-back. However, the "sell in May and go away" has certainly held true to form. But as a shorty I express caution. Valuation plays can be very dangerous in this present market. If the market takes off again the cheer will most likely be wide-spread and without conservative stops in place you could get run over. Then again, most daytraders are a bit timid at the moment. There’s a lot of knife catchers out there right now with missing fingers (ouch). Several momos I've been waiting to get a whack on have failed without me. It's a very frustrating time for both long and short trader. These failed break-outs reinforce my suspicions of a trendless or “dull market”. And you know what they say about shorting a dull market. So, I suggest a portfolio over-weight with cash. Trade light. Be patient and wait for the SCAM to surface. They always do! Don’t force it!

Till then Happy Trades

LATEST ROADKILL

BSML - ok lets get this straight -> june 2nd nas delisting satisfied, june 5th buyout talks with private company, june 7-8-9 insider picks up 250k shares on the cheap, june 9th takeover bid 4 bucks a share, june 11th takeover bid rejected (u gotta be kidding, lol).

this stinks and should be -> SOLD!!!