The recent run up in the stock market allowed me to close the positions I had in the two stocks that I have been following which were BBD.A-TO and MVIS. This is a relief because I wanted to make sure that I am not holding any stocks from this point forward, until some bargains presents itself.
In the next few months starting June 30th I’ve got a feeling that the direction will be down as far as the two stocks that I have been tracking they are trading below 50-day moving average, albeit that they have punched through that this week, but I don’t think the upward momentum will last.
Who knows I could be wrong, but capital preservation is the main objective and for now I just want to wait be patient and see what happens over the next while.
Yesterday was a good example, China says they will allow more flexibility in its currency, the DOW jumps over 100 points and then by end of day fizzles to a negative close…it signals to me that the
upward strength is just not there.
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