Tischendorf Letter Issue 123 - March 10, 2011
Greetings!
I just went to: 100% Cash
Sold CNL.TO @ around 9.40
Sold TMB.TO @ around 4.71
Sold DNN @ around 3.16
Sold UEX.TO @ around 1.81
Sold RGX.V @ around 0.55
Sold SOLR @ around 9.50
A few of my stop losses triggered and overall selling pressure has increased dramatically. The market tone has indeed changed and sellers are now in control. This market environment is not conducive to position trading from the long side. I have to respect the market's message. Additionally my equity curve breached a level where I decided beforehand that I would step aside. That's what I did. Now my job is to take a break, clear my mind, patiently wait for the charts to set up again and mentally prepare for new trades.