As many of you know I am currently traveling and staying in a little town founded during the California Gold Rush. What better way to enjoy the area than to test our ability at the craft that made this town famous; so tomorrow morning I am going to head into the hills, find a nice black sandy river, and try my hand at some good ‘ole fashion Gold panning.

It looks and feels as if traders may be more interested in booking gains today then adding new stocks. The day is still young however the common theme may be that the recent gains have come fast and furious and profit taking doesn’t sound half bad. I have gone through my position sheets this morning and I am just not finding all that much more to sell down. I already have a solid chunk of cash and lines are drawn however at this point, my stocks are still within their respective areas of health.

As a trader I am always faced with a tough decision when it comes to nagging suspicions. If one were to actually conduct a study about nag, one would probably learn that often it isn’t some higher power induced instinct; rather it is a psychological barrier between mediocrity and excellence. I cringe at the thought of how many times I have sold a stock because of a nagging suspicion the run was coming to an end, just to see it march higher another gazillion points. In my earlier days I would also suffered a few battle wounds jumping into stocks because of a nagging suspicion that a big bounce was coming. Even at this very moment, I am wrestling with a small but growing nagging feeling that the markets are due for a healthy correction.