Looking at my stock and index chart indicators, it looks like the markets are headed south for the next leg. I got out of my position over 2 weeks ago and now it is basically a waiting game, the indicators tell me that I should be in all cash and possibly the DJIA (Dow Jones Industrial Average) is going back under 10,000 within the next month.
In light of this, for my target stocks…I am out, wait for a bounce and make a quick $0.15 spread, however first the dip must come…so for now it is just a waiting game, but waiting is all part of trading.
Realize this I may be wrong…the recent earnings report by big companies might be awesome, and give the market another spurt, but the Dow is trading under both the 200 and 50 day moving average and uncertainty of the economy is still strong and outweigh the risk of being in stocks… I am playing it safe.
Please read my disclaimer.
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