Stopped Out for Small Loss

DPR Update: No Trade, Market chopping

I hate getting stopped out in a choppy market, but although it’s a loss, it’s really small.  Not sure what happened overnight, but the market got spooked pretty good and followed through this morning.  It’s recovering now, but not sure there is much more upside here for a bit.  More selling on the way I think.  Of course, if I knew for sure, I’d be a billionaire!

So, let’s see what it does next.  The megaphone I mentioned yesterday printed, and therefore the pattern is muddy.  Time to sit on the sidelines and wait and see what transpires.  It’s always heightened risk when a trend is joined after such a big run up.  Last Fridays pop due to the tech earnings set this trade up to be chopped up, however all signals must be obeyed.

If only it would sell off so I could grab a decent low….maybe this time?

Bring on the bears!

John

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