More pullback in the stock market today??

Looks like things have quieted down a bit on the international front. Governments are still flooding money into the system. So the backdrop for the stock market is bullish. Bullish Sentiment is rapidly evaporating which is very positive.

I am long and looking to get longer. The odds still favor a breakout to the upside. As long as they do I am going to trade it that way. I was stopped out of two trades yesterday and added a SPY index trade. Despite my opinions about value, I am still going to honor my stops. No sense getting suicidal in all of this:)

Going to cut this very short this morning as I have worked on some computer problems that are almost taken care of.

One last note, despite the pullback we are holding up very well on positions held. Gld has been a standout. And several positions I have are up 5%+ 10 min before the open!

You can follow my trades at @rickjswings. Its free and is my private feed

 

Good Luck Today

RickJ

RickJ’s Handicapping Picks

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