Aussie Going Down Under?

When we enter a trade, we do so because we believe we have an edge; that's the only logical reason for initiating the process. If you don't have a reason or reasons that give you an advantage, even a theoretical one, then a trade becomes a coin toss. Actually, it's worse than that: A coin toss has 50-50 odds, but, win or lose, there are costs associated with trading. Those costs put the gambling trader at a disadvantage.

Two weeks ago, I closed out a few positions that weren't working, precisely because my so-called edge was no longer valid. One was a short on Google (GOOG), based on a bearish pattern and soft price action. At the time, tech was lagging the overall market, but things changed quickly. Just a few weeks later, the Nasdaq is taking off, with Google and Apple (AAPL) leading the way. Looking back, I'm very happy that I refused to stick with something that wasn't working....383 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

Read the full story and get access to the Real Money Pro trading floor.

There’s no substitute for a trading floor to get great ideas, so Jim Cramer created a better one at Real Money and blogs there exclusively. We then added legendary hedge fund manager, Doug Kass, with his exclusive Daily Diary and best investing ideas. Staffed with more than 4 dozen investing pros, money managers, journalists and analysts, Real Money Pro gives you a flood of opinions, analysis and actionable trading advice found nowhere else, and allows you to interact directly with each expert.

Already a Subscriber? Please login.

Except as otherwise indicated, quotes are delayed. Quotes delayed at least 20 minutes for all exchanges. Market Data provided by Interactive Data. Company fundamental data provided by Morningstar. Earnings and ratings provided by Zacks. Mutual fund data provided by Valueline. ETF data provided by Lipper. Powered and implemented by Interactive Data Managed Solutions.

TheStreet Ratings updates stock ratings daily. However, if no rating change occurs, the data on this page does not update. The data does update after 90 days if no rating change occurs within that time period.

IDC calculates the Market Cap for the basic symbol to include common shares only. Year-to-date mutual fund returns are calculated on a monthly basis by Value Line and posted mid-month.