Market Watch with Tom Waitt

August_17th_2011.mp3 Hold 'em, Fold 'em, Sold 'em?    You got to know when to hold `em, know when to fold `em, Know when to walk away and know when to run. Dow Jones Industrial Average (Click For Larger Picture) Buy and hold has not been a successful strategy but beats selling and running like hell when the masses panic. The Dow Jones Industrial Average fell 18% over the last few weeks as investors panicked in a media hyped decline as the World came to an end. This was a time to hold em and buy more as we get set to challenge 2011 highs of 12,876.00 this fall and the all time high of 14,198.10 in 2012. We have retraced 35% of the huge upward move of 2009 to 2011 which doubled equity prices. Support stands at recent low of 10,604.07 which is also near the 200 week moving average. Currently 11,442.30 up 8% from last weeks low, overhead initially at 12,000. Timing is everything! This is a trading environment and requires active management it is paramount to think outside the box and apply