I just finished re-watching a video that suggested the market should pull back, form a higher low and then take off. Funny thing, it was an old video and the market has yet to pull back. We need this pull-back before sidelined money will be drawn in.
Since this was our third lower day in a row, one hopes the process has begun. That said, am I still in FAZ? No! During this morning's gap down, I was at a 10% profit so I sold. Yum!
In review of the day's action, I wish I had re-bought later... I am expecting the market to fall more overnight. Today's trading action was confusing. The TRIN and TRINQ were bearish but the A/D was positive most of the day, I thought it best to just watch the show unfold. Therefore, by not being involved, I missed a great chance.
I'll get better.
Update (the next day): Durn good thing I didn't re-buy FAZ! This morning, the market was very strong.
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