Stocks Trigger A Selloff

I do not like the action we’ve seen lately and especially since last Friday.

I sold just about everything today to lock in some amazing gains, and a few losses, as I detailed on twitter today @iTraderz

We can always buy stocks back but mid-September until November tend to be poor months in the market so it may be a good time to take a little trip and enjoy the fruits of the profits we’ve just locked in.

SPY looks to want to roll over further.

I thought we’d get a rip higher before the seasonal weakness kicked in but that’s what I get for thinking.

We just have to interpret the charts and act without emotion.

I’m looking for short positions as they come but not going to push my luck and I am already short HCLP.

We had a great run, and likely will again into years end, but 6 to 8 weeks of setup is certainly due before that so I’m not looking for a crash.

Shorting will be limited to excellent setups and action.

Enjoy your night.

Warren