Professor’s Comments March 31, 2014
Posted by OMS at March 31st, 2014
Once again we see the Dow making a run at 16,450 without a clear breakout.
The Professor is quiet this morning with only 10 longs, not enough to generate a new trend signal.
Our energy stocks appear to be the only thing that is trending, but now they appear to be getting slightly over bought
Here’s the thing: At this point I would not be surprised to see the market (Dow) pull back 100-200 points before it starts to move higher.
The question is do I want to hold my energy stocks during this likely pullback, or should I book a few profits and hope that I can get back in later this week.
Right now, I have some substantial profits in many of my energy issues, so I’m going to take a few bucks off the table. Yeah, I believe that the market is going higher, but it makes me nervous to see only energy participating.
I don’t like that.
That’s why I’m gonna sell a few shares and play a little defense.
Hopefully this will put me in position to either buy back my energy issues at lower prices, or enter a few other sectors when they start to move.
That’s what I’m doing,
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Category: Professor's Comments