I’ve sold out of my TWTR & WB positions for gains, while taking loses in two names from friday, CERS & JMEI. I’m back to cash in my trading account, and my watchlist has just about dried up.
The market looks ready to come in here, but I wouldn’t be surprised to see the dip buyers out in full force later in the day. The PPT is nearing an oversold signal, but not quite there. BABA is finally trading so one has to ask the question, is this the top?
It doesn’t feel like a top, but I also don’t like what I’m seeing here on the long side of things. I’m content sitting in cash for the time being while the market figures itself out.
Here’s a look at today’s high volume/hybrid movers: CLICK HERE FOR CHARTS
If you enjoy the content at iBankCoin, please follow us on Twitter
We make one more push higher I think.
I’m thinking the same.