Thursday, January 12, 2012

Surrendering to the Bull

I waited. And waited. There should have been a drop. Even a small one.
But bull didn't want to listen. Still doesn't want to. Stock action is very bullish and I decided to increase my long position.
Today I added to my $IFN position. Indian Fund is a closed end fund invested in Indian companies. Stock is down a lot since last August. Current action paints quite nice bowl pattern, which is bullish.
I might be wrong. It can be a buyer's panic. That's why, as usual, I trade in small increments, around 2% of my total portfolio.

No comments: