Tuesday, June 10, 2008

Out of Hanfeng

I sold my position in HF today to break even on the trade. Of course, it scurried on up afterwards but settled back down a little by the end of the day.

After reviewing the charts of several agricultural plays last night, I came to the realization that HF hasn't been participating in the most recent rally and the chart doesn't look too promising. I'm not smarter than the market! As such, I have revised my trading strategy; I now intend to stick to stocks that are leaders in their sectors and those sectors must be in solid uptrends. So I'll try to invest in momentum plays in the months to come and see how that goes.

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