Not Kidding!

DJ-30: 13265.47 -585.61 -4.23%. In the Real World: 54.41 -2.39 -4.21%.

UP: 4, Down: 26.

Trends (weekly): This is the subjective part.

Rising 12 (-10) 40%:

BA, DIS, GE, HON, HPQ, IBM, INTC, MMM, +*MRK, UTX, VZ, XOM.

Consolidating 7 (+1) 23%:

-*CAT, -*GM, -*KO, -*MCD, -*MSFT, +*PG, T.

Declining 11 (+9) 37%:

-*AA, -*AIG, -*AXP, C, -*DD, -*HD, -*JNJ, -*JPM, -*MO, -*PFE, -*WMT.

+/- denotes change of direction.

* denotes change of category.

Not Kidding!

In the words of Don Worden over at TC 2000, "This market's not kidding!" I think that about covers it.

In the words of Larry Kudlow (CNBC's Kudlow & Company), "Don't give up hope!" Aren't those the same sentiments heard at every important market top? It's called "hand holding".

The word, hope, is not part of the trader/investor lexicon.

My personal favorite, "This is not the time to panic!" Someone should ask if they promise to tell us when is the time to panic.

A trader only needs to know three things when considering a trade:

(1) What is the potential loss?

(2) What is the potential gain?

(3) How long will it take to find out?

And then move on to the next trade.

Realestate magnate, Sam Zell, nailed it when, in a recent interview, he characterized himself as a "serial opportunist". Spot on!

Any other mind set is a waste of time.