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Stocks retreat taking some break as I expected

Stocks retreated today. I didn’t have time to check why actually it was happening, but honestly, I do not care.

I look at the market trend and stocks trends from technical analysis perspective and trying to eliminate the noise media are creating every day.

What I see is an insignificant pullback on 1 year chart with a very strong uptrend move and inflow of money. The intraday chart was flat the whole day.

The market broke from a consolidation pattern in May 23 and since then strongly moving up. When looking at my indicators, we will most likely see a little more of an uptrend as the growth is not slowing down.

It may change of course. I am not an expert and do not have a crystal ball, but we may see some growth still.

This movement however made me to open a new trade against TEVA (bull put spread), which was a violation of my rules, money management, and increasing free cash reserves. Heck, I realized that I must keep my trading platform closed during the day as the temptation opening a new trade as soon as I have free cash in my account is very strong.

 





2 responses to “Stocks retreat taking some break as I expected”

  1. “Sometimes the toughest thing to do, is to do nothing.” Two of my favorite investing legends have each said that. Jim Rogers and John Bogle. The longer I invest, the truer their statement becomes.
    -Bryan

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