The markets are trading lower but above where they opened, indicating profit-taking versus any change of investor sentiment. Numerous stocks continue to trade bullish continuing to confirm fry pan bottom and J-hook patterns. Stay predominately long but with stops in place. A number of uptrending stocks have been stopped out based upon prices moving back through levels where an uptrending stock should not be trading. Stay predominately long but with stops in place.
August 7th Daily Market Comments
The markets are trading lower but above where they opened, indicating profit-taking versus any change of investor sentiment. Numerous stocks continue to trade bullish continuing to confirm fry pan bottom and J-hook patterns. Stay predominately long but with stops in place. A number of uptrending stocks have been stopped out based upon prices moving back through levels where an uptrending stock should not be trading. Stay predominately long but with stops in place.