We’re greeted with a rather listless ope…

We’re greeted with a rather listless open to start the trading week.  We’ve had some wild up and down action in the four weeks since I started Trading With Cody.  Just a couple days into the trading, Japan’s quake and resulting nuclear nightmare hit the markets hard, and I stepped up the buying into the panic:

Yesterday after the market close I said that if we had had a down 2% day I probably would have bought more stocks yesterday. Well we have that 2% close down day this morning as the world wakes up two more nuclear headlines out of Japan. I am indeed looking to scale into long positions today. I am starting with Cypress Celestica and Nokia. Stay vigilant and I will be back with more in a bit.

http://tradingwithcody.com/archives/396

The markets have since rallied about 7% or so off those lows, and many of our stocks have had some nice bounces too.  Others, like Riverbed, are still down for individual reasons.  This week, I will be looking to add another tranche to my Riverbed position, as I’d noted on Friday, but I am not going to commit a huge chunk of change into the name there either just yet.

I’ve done a good bit of trading at these levels and I’m going to continue to move slowly with the trigger finger for now as we head into earnings season starting next week.  I’m telling ya — earnings will be a huge catalyst for us and for the markets.  But it’s likely to be slow sailing til then.  Patience is key to great trading too.

I’m on the road today, headed to SF to speak on a panel tomorrow night so posts will also be sparse today.  Stay vigilant and listen to some rock n roll today.