Traders Clean the Slate

And 2006 is a wrap.

As expected, we had a flurry of action in the final minutes of trading but it wasn't anything really dramatic. Overall it was mildly negative day with gold being the only sector to end on the plus side.

Many market participants were more interested in closing out positions and looking to start with a clean slate in 2007 after a unexpected four-day break than they were in doing any buying in the waning minutes of the day. That shouldn't be considered indicative of anything to come when we get back to work next Wednesday.

Although the indices were up nicely in 2006 it was not an easy year for more market participants. The character of the advance was quite different than anything we have seen in the last 10 years and it caught many folks by surprise. The average hedge fund failed to outperform, as did many individuals. In general there was a lot of underperformance this year.

2007 will be equally if not more challenging. We'll take it one step at a time and if work hard, stay methodical and keep an open mind, we will be successful.

Happy New Year. I'll see you on Wednesday.

ALL REV SHARK BLOG ENTRIES | POST A COMMENT | READ COMMENTS  

---

James "Rev Shark" DePorre is the founder and CEO of Shark Asset Management, an SEC-registered investment advisory firm. He also operates sharkinvesting.com, an interactive online community that serves and educates active investors. DePorre holds business and law degrees from the University of Michigan, is a member of the Michigan Bar Association and a former tax attorney and CPA. He lives in Anna Maria Island, Fla., with his wife and two children.Under no circumstances does the information in this column represent a recommendation to buy or sell stocks. Rev Shark appreciates your feedback; click here to send him an email.