What a difference a day makes. Those who turned bullish recently looking at nice beakouts in recent days got a nice surprise today morning. They got ambushed early in the morning.
Readers of this blog had ample notice of impending correction. I was busy yesterday morning running some household errands, when I came back late morning I saw range expansion on number of stocks I was holding. Then I looked at some of the indicators I have discussed here so many times. I surmised, when things start galloping in
gaps, a correction must be near by. Aggressively dumped most profitable positions built over last 4 weeks.
Once this correction plays itself out the market will again set itself up for long entries.
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