What another bullish day for the stock market. Traders took the market high and low today amid ISM, personal income and consumer sentiment.
Investors have not found any excuse to sell their holdings. While a few fund managers have been telling people to sell equities now, those Tepper traders constantly pump the market to new highs.
Quite a number of stocks have reached their new 52 week highs. Will this rally continue? My chart says that the dow ought to correct here after a steep increase.
I think I will stick to my earlier trade decision – wait out and buy more at lower prices.
Currently, I am long BAC. I am out of X and i have a very small short of FCX.
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