CSKI January 12, 2009

I sold CSKI today January 12, 2009 for a small gain. I was hoping for a big gain but the charts told me to get out so I got out. I have been asked about my approach to CSKI and here it is in a nutshell:

As the market was cratering in September and October I was short. When my shorts stopped going down, I covered them and I started creating a buy list in early November. By December, it was clear to me that CSKI was strong, relative to the rest of the market and it also had good fundamentals. It became my #1 stock and I started watching it more closely. CSKI then broke its dowtrend on 12/04 and then I made my first purchases on 12/08.

Overall, the markets are weak. Sit on the sidelines and wait for the charts to tell you what to do.