Saturday, July 02, 2011

Time to Sell the Rally?

sell into the stock rallyThose who are playing the countertrend rally, are probably wondering if it's time to sell and take profits.

The link is to a strategy on how to play either continuing strength or weakness. I think it's worth a lazy Saturday read. Remember to send a note to thank the writer for providing a point of view!

As for me, I fully anticipate that the summer correction still has more to go. Yes, we've had a double bottom and have hit the 200dma. But much of what is happening is from a big weekly losing streak, ahead of a bullish quarter-end pattern.

I'm still in my $SPY trade for now.

Hot day in Sacramento! Been working outside and watching movies inside!

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