It's Getting Ugly Out There

It was interesting to watch the general market throughout the day just keep trending lower and lower. I'm starting to smell the blood in the water.

Meanwhile, politicians keep spinning their wheels with horrible ideas in an effort to appease voters. "Excess Profits Tax"? Sue OPEC? Please.

Yet, some politicians are standing in the way of wind farms being built out west for some reason that just adds up to NIMBY thinking (Not In My Back Yard) and drilling in ANWR because it would be unconscionable to inconvenience a mountain goat or migratory bird. It really is just laughable.

Meanwhile, early in the day as the market was attempting to show signs of life, a few more stocks set of triggers for me to add to the portfolio. Unfortunately, all of these stocks turned tail almost immediately after I entered them.

I should take this quick moment to point out something: It will never be my intention to catch the bottom of a stock before it takes off. Nor will it be my intention to sell the absolute top. It's impossible. I gave up trying that years ago.

I would rather buy a stock at highs and watch it go higher. And I'd rather get out of stock after its already made its high for the move. Prove to me its not going higher, then I'll get out. I will leave lots of profits on the table an infinite number of times. But it is this same philosophy that will keep me in the BIG winners that might double or triple in value. Those trades are the ones I'm in business to catch.

Today's portfolio changes:

Subtractions:

Sold GTI @ 24.74, losing 9.4% on this position
Sold ACI @ 67.69, losing 10.3% on this position

Additions:

APA, Apache Corp @ 144.28
NBL, Noble Energy @ 104.00
ARD, Arena Resources @ 55.11

The markets are down over 20% putting them in BEAR MARKET territory. Eventually, the market will come back. And when it does, it will be led by companies with strong fundamentals, increasing earnings, and positive outlooks. All the world is screaming doom and gloom. It takes a little more work, but if you look closely...there are great young companies flying under the radar getting ready for huge breakouts when the market finally stabilizes. I'm gonna stick to my process with full confidence that I'll catch a handful of those future leaders that will take my portfolio to new heights.

Despite all the politicians attempting to stick their nose into the markets, in the long-run I believe in free market capitalism to fix what ails it. The market is never wrong.