Tuesday Jan 8th 2008 Recap

Until I learn how to short properly and develop a trading plan for shorting, I will continue to sit out markets conditions such as ones we've seen today.

I am thinking about consolidating my trading portfolios and focusing on a single trading plan rather than two different ones. I currently use two brokerages (Tradeking and Zecco). My inclination is to move everything to Zecco because of the low volume of trades I am making every month.

I've decided on using three layers of direction as part of my trading plan to determine whether or not to trade a stock or not. Like Kirk, from Kirk Report, I will be keeping a close eye on the market, the industry in which the stock I am looking at, as well as the chart of the individual stock. All three, must work in my "favor" in order for me to execute a trade.