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,

h

Not sure of the terminology we use? Check out these articles

The Hockey Stick Pattern
The Creation of Waves and Trends
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