To answer my own question…You would think so. Everything points to a correction luring in the Stock Market. The most important variable to me is that sentiment has gotten very bullish now. I understand rallies but when sentiment gets ridiculously high its time to be very cautious.
And that is where we are at now. But the market does not have to correct here. A consolidation would also get variables in line again for another blast off higher!
Today we are looking at a flat to down open which most likely will be bought.
I plan on continue being very conservative while managing my existing trades.
If your long here it would be a good idea to at least lighten up a bit. My 2 cents worth:)
You can follow my trades by following @rickjswings. Its my private twitter feed and is free.
I am making this very short this morning as its 10 min before the open and I had a late start today. But I will post trades on my twitter feed.
Good Luck Today
RickJ
RickJ’s Handicapping Picks
