Yes you heard it right. Stop buying at least for now. Hopefully you have profited as we have touted the bull market here for sometime. However, the market is overbought and a pull back is eminent. Take some or all of your profit and wait for re-entry. When the market likely retraces and finds new support levels, we will get back into the market. This might take a couple of days or a couple of weeks but you will have locked in your profits and should be ready to objectively analyze your next entries. You may even find better plays from your watchlist as some of the high flyers like energy lose some steam. For aggressive traders, a counter trend move may be appropriate. As always be patient and let your setups develop.
Dow Breaks 13000 Stop Buying ......
Thursday, 26. April 2007
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