Day 10: The Expected Retraction Cometh

And here we see at last - the correction. At first glance it might be a bad thing, but honestly - I don't trust it when 75% (or more) of ALL my stocks are rallying. I am aiming for a far more modest 50-60% range, my prior experience tells me that's the most reliable indicator of real success. Everything else is just temporary. So not only was I expecting this pullback I was hoping for it. It's disappointing to fall back under the losses from Libbey but because I was expecting it I don't put much stock in the bad news. Especially when you consider CEDC is still gaining, NM is still gaining, and today I have $10 and if everything goes well - I'll buy my first two legitimate shares of NM this week! :)

Again, let me remind the reader - I am for persistent, daily portfolio growth of only 1% a day right now. That average was exceeded on Day 7, this correction however brings the average down to a little under 1%. I'm gonna give it a week though before I start fully trusting in the trends. Right now I'm still reliant on diversification rather then speculation to make me money. The markets will open soon, and today in the wake of the correction I'll begin evaluating stop loss placements. In addition I've placed an order for Libbey if it declines - I'm actually only about 2.5% invested in Libbey - somehow I messed up the original order. :/

I'm gonna bring that back up to 5% so it's in line with the plan.

Also - in just a week CEDC has posted 13.69% gains, NM 7.85%. CEDC is continuing its P&F breakout while NM is a mere .50 from testing its downtrend resistance line. If it breaks and holds $4.75 or Hell, even $5; then an amazingly strong argument will have formed for them to continue to the projected price target of $7. The worry though, is ADAT. It's a penny stock and I REALLY want to own it because it is a penny stock with near-universal agreement that it will rise. But its cap is so small there is ridiculous resistance to its rise. But it's sitting at $.70 on a stock that sat at nearly $18 four years ago.

I've tried to doubt the trend, but the signs of consolidation suggest this stock is about due for a rebound, like NM. At an entry point of $.70 ... I could get amazing leverage out of ADAT if I can just find a suitable entry point. Grr. Frustrating!