Sunday, January 26, 2014

Nothing But A Profit Taking Sell Off In A Powerful Bull Market

Updated for buys on 1/18

The sell off last week was a classic profit taking sell off in an otherwise powerful bull market.  Typically, selling in a bull market is steep in magnitude, but short in a duration.  I expect maybe one or two days of selling early this coming week, then a run to set new highs for all major indices.

As I posted on my facebook page, I did not do my 3rd buy at 1806 as originally planned.  My plan is to do my 3rd buy sometime early this  coming week.  I am looking for SPX 1776 as an entry.

Disclaimer: The views expressed are provided for information purposes only and should not be construed in any way as investment advice or recommendation.  Furthermore, the opinions expressed may change without notice.