Cash is (Still) King
Wednesday, July 2, 2008
Despite having promised to revive the Greenback Consulting blog at the beginning of summer, some readers have been asking why so few posts in June? The answer is that the Greenback Consulting portfolio is still stashed away in cash. The recent market turmoil has made it difficult to justify many swing trades on the long side; and we believe that playing the short side of this market is trickier, and frankly, we are more willing to wait it out for some opportunities.
On the bright side, stocks are forming bases that we plan to use for trades when the time comes. Trying to play breakouts in individual stocks when the general market is in correction is not a game we are interested in, and one that we will avoid for now. When we start trading again, you will know about it, and can hopefully make some money along side us. Hang in there, it can be brutal out there.
Posted by Rob Pitingolo 1:01 PM
