Here we go again with the European crisis once again dominating our markets and the pressure showed today with technical turns to the downside. The S&P500, Small Cap, European Index, Nasdaq, and the Dow30 all created a Pivot High which is a indication that the market is going down. What makes this worse is that they all agree. The only thing that I see that stops this is something positive comes out of the meetings tomorrow in Europe with their banking system. Rumors are nothing good is going to happen.
Another indication I use is when my stocks start getting stopped out. Today I got stopped out of Caterpillar with a .02 gain. Yes 2 cents. I got a feeling that I will lose 4 out 5 of my stock that are left in my portfolio tomorrow. I pushed all my stop loss orders up to the point that I will loss no money on the transaction at all. 2 of my stocks are already below my cost, so I will have to eat a small loss on both of those.
Tomorrow or Monday is likely going to be my pull day out of the market and back into the G-fund depending on what happens from market open to 11:45am. After looking at all my charts, I have little faith that things will turn positive tomorrow. HoHum!!!
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