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No profit taking yet. Good sign for now

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Stocks closed mixed but mostly flat yesterday after a more negative open. The Dow lost 17-points and most indies were flat.


The action was actually quite bullish as the indices closed well off the lows despite there being a very good reason for profit taking. Perhaps volatility will ease up, but I still have my suspicion that this rally will eventually fail and we'll get a test of the lows. In the interim, maybe we can make some money.

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As I mentioned yesterday, I'm taking my annual trip to warmer weather this week so market commentaries may be brief and the market cooperated yesterday by barely moving yesterday so I'll take advantage and leave it until tomorrow.

Thanks for reading. We'll see you back here tomorrow.

Tom Crowley


Posted daily at www.tsptalk.com/comments.php

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Comments

  1. tsptalk's Avatar
    So much for low volatility and no profit taking.

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