Last weekend I pointed out that since mid February the market has actually been going sideways but with some significant up and down cycles.
I think this was, and is, correct ...but I sure missed something obvious and important.
This was that there was good chance of the market currently being headed to one of those mini down cycles. Unfortunately I re-entered with some purchases and it looks like I now need to correct that action.
So what did I see in my weekend review?
IBD (Investor Business Daily) now indicates in their Current Outlook as: Uptrend Under Pressure
Last week I was mistaken when I said Copernicus “is now showing to be short … in my interpretation (This does bother me a little)” …but that does seem to be correct for this week
On Monday I picked up AXP, AMZN, ARBA, BIDU, but did not pick up QCOM …I also added HHH and picked up AAPL and SPY .
I will likely sell all or at least most of these on Monday…will decide the final resolution in the morning
Currently my "Stocks for a Trade" now consists of:
(All gains or losses shown are the total since purchase)
ETF's for a trade are:
Have a great week.