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Fear & Greed Trader
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INDEPENDENT Financial Advisor / Professional Investor- with over 30 years of navigating the Stock market's "fear and greed" cycles that challenge the average investor. Investment strategies that combine Theory, Practice and Experience to produce Portfolios focused on achieving positive... More
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  • Market Recap- Caution ! 0 comments
    Apr 3, 2013 3:56 PM | about stocks: SPY, AAPL, FFIV

    Today's price action in the market built upon the negative divergence I mentioned in yesterdays post. DJ Transports and the Russell 2000 closed today below their 50 Day MA. Media types will blame the selling on anything from N.Korea, lower than expected economic news today, etc. etc.

    The selling is simple, healthy profit taking and rotation from the YTD outperformers. C and BAC were both down 3% after having a stellar first quarter. I noticed a bid in select tech today, not conviction buying, but a bid nonetheless. Favorites AAPL, FFIV bucked the trend and finished higher.

    Select call writing and trimming stretched positions are suggested.

    Themes: SPY, Caution Stocks: SPY, AAPL, FFIV
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