Knowing that retracements are healthy and after the run up in the S&P that we've had since November, I am expecting a pull-back at least to the 200 MA and possibly the .023 fib at which point I will begin laddering into some positions where I missed the breakout for good entries. I would expect about 8% retracement and I wouldn't expect it to happen overnight. Keeping in mind that I am new to TA and could completely miss gains waiting for a pull-back but I am willing to take my chances.
I went to a seminar today of a very conservative financial firm. They were very bullish, which indicated to me that it might be good to proceed with caution. When the bears are bullish, its time to run for cover. I plan to keep my winners and have been cutting back on underperforming stocks. Other than that, I am looking for a pull back for buying opportunities.
I went to a seminar today of a very conservative financial firm. They were very bullish, which indicated to me that it might be good to proceed with caution. When the bears are bullish, its time to run for cover. I plan to keep my winners and have been cutting back on underperforming stocks. Other than that, I am looking for a pull back for buying opportunities.