Stocks Look To Be Starting To Correct

“If you genuinely want something, don’t wait for it–teach yourself to be impatient.” – Gurbaksh Chahal

SPY started strong but then began to fade along with many stocks including most leaders.

It looks like I was right to lock in our long gains Thursday and I shorted some stocks Friday as they began to breakdown.

I’m short ALXN CMG FB NFLX & TSLA now so let’s see how it goes.

SPY closed on lows again, which is not a great sign.

It’s not breaking down yet but trying, and the 204 and 21 day average at 203.20 are key levels to hold.

It always amazes me how quickly behaviour can change as we saw this week.

Wednesday was so good but then Thursday changed everything and forced me to lock in gains.

While I’d love to be able to buy and hold it just isn’t in the cards from what I see, yet.

Have a glorious weekend.

Warren