Let it Play Out

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As 12631 and The PPT member “kelkun” pointed out, this market is actually becoming boring with so many whipsaws yet not much being accomplished, especially from about 10:30 am EST until 2:30 pm EST each session. While breakout plays are not working well right now, I expect this 1275 area on the S&P 500 to hold. As Woodshedder pointed out earlier, a mere breach of a rising 200 day moving average is not a bearish event in and of itself.

I recognize and completely acknowledge that things are sloppy out there right now, but believe that letting this play out is the correct course of action, as opposed to running around on Twitter all day using up energy by saying things like, “OMG OMG OMG crash is coming!”