Don’t force anything here

Well it’s a little bit slippery to the downside out there in the markets this morning.

I’ve been trimming some of my biggest positions and adding some hedges for the last couple weeks or so even as the action in the markets has been so bullish even near-term. I’m still plenty net long but I’ve sold down a lot of my call options that we’d bought when stocks were much lower and thusly have locked in a lot of those profits. Selling options instead of common reduces my upside exposure, but it drastically reduces the amount of money I could lose too. And I was aggressive lower, so I can be cautious now. And I am.

Apple’s down $10 even as news hits that it’s already sold more than 5 million of the new iPhones.  Meanwhile, Google continues its non-stop ascent, up another $10 this morning to brand new all-time highs.

Patience is one of the most important elements to long-term investment and trading success. Be patient. Don’t force any trades.