The End of Another Week

For the most part, the market moved sideways this week, which is bad for me. I don't really care which direction it goes - I just want it to pick a direction and keep going that way (although up IS easier, and easier to stomach).

I ended the week owning the ETF's HOU (oil) and HBU (gold bullion) and the stocks TCM, MBT, LIF.un, ECA, TRP, and PWF. Two of these stocks - TCM and MBT are in 'don't buy' territory, but they both appear to have very good support at their current levels. MBT has hit $32 a few times and has not gone below (plus they are a regional telcom and a good takeover target for the big boys) and TCM just announced a big financing at $14, so it shouldn't drop much below its current level around $13 (and shouldn't really have dropped that far in the first place).

For Monday next week, I am looking at new buys RCI.b, TCW, HGU (gold stock ETF), and HEU (energy ETF). I will get into the ones that open strong on Monday. I am also keeping a close eye on LIF.un, TCM and MBT, as they are all below their 40-day moving averages ('don't hold' territory, for my trading rules).

I am about 21% in stocks right now (the rest in cash), since I am still expecting a pullback of 5 - 15% in the fall. As long as the indicators say to buy, though, I am comfortable adding to my portfolio with the stocks mentioned above. I don't want to miss a big upmove in the market, which could come right before the correction I am expecting.