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Despite getting stopped out of one long position today inside 12631, the market is still largely digesting its rally higher last week. The bears have yet to be able to crack the low-1390’s on the S&P 500 index, and until that happens I am reticent to go back to 100% cash or look for swing shorts with any sort of a vigor. Most stocks on my screen seem to be off no more than 1-2%, indicative of digestion. I also see that the real estate ETF, IYR, is green, while the transportation stocks are hanging tough overall. The market rotation still appears to be playing out.
With that in mind, I am not getting too worked up over today’s softness. Once again, if the bears are able to get any sort of downside momentum going, then I will be more inclined to play tighter defense. For now, I am still wading back into the market in a methodical manner, with about 60% cash at my disposal.
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Cute but don’t understand the piercing…
Purge valves?
I don’t know Chess. Might want to ID her first. Looks a little young.
21+ on this blog, pal.
only thing i got holdin me up is wlt, today. so im even…