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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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  • May 16th Caution Advisory -- Update. 0 comments
    May 22, 2013 2:01 PM

    Last Thursday I posted that I noticed intraday "reversals" on a few stocks that I monitor.

    Given today's market action with the S & P up approx. 14 points earlier, the index is now struggling to stay positive , and as I continue to write this the S & P has now turned negative by 3 points.

    More caution is now advised as we may have just put in an intermediate top here (S & P 1687) given this reversal.

    Review your portfolio, sell calls on positions that are extended, and trim holdings that u have garnered large gains in. In summary , play a little more defense . If you haven't done so already raise some cash that could be put to work in the future.

    I consider this the first sign that we could trade sideways , with larger intraday swings and churning , then embark on a correction.

    Stay Tuned

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