“Most great people have attained their greatest success just one step beyond their greatest failure.” Napolean Hill
Friday was pretty tough to sit through unless you’re in the best stocks who hold up well in the face of weakness as we are.
We’re sitting on a few small losses for now but we’ve booked some nice gains this week and most of our stocks are still well above the buy areas so I’m trying to let them work a bit.
We’ve got a solid list of leading heavyweight stocks set to report in the week ahead and that can snap markets back in a jiffy!
SPY gaped lower hard on the open and just never got any traction all day and did so on heavy volume which is not good at all.
According to this chart, it looks like I’ll be reducing and selling a lot of stocks very soon, but then I look at my stocks and they’re holding very well so far, but that can change.
On a positive note, SPDR S&P 500 (ARCA:SPY)closed right at 208 at the 50 day average and on heavy volume pushing it up to that level for the close.
Let’s see what Monday brings.