The markets pulled back slightly on Monday after huge gains last week. The SPDR S&P 500 ETF Trust (SPY) is trading at $140.36, -0.97 (-0.69%). I called and profited from last week's major rally the market due to the technical signals that were clearly visible using the proprietary PPT Methodology. The profits flowed on stocks like Molycorp Inc (MCP), Apple Inc. (AAPL), Chevron Corporation (CVX) and International Business Machines Corp. (IBM). Members were alerted to these trades live as I took them and profited alongside me.
While the sentiment has turned towards the bullish side, I am now becoming a little more conservative. The rally was choreographed but now things are slightly less clear. Politicians in Washington D.C. have one month left to agree on terms to avoid the Fiscal Cliff. This is what has me playing it safer now and taking most of my profits off the table. The market will start to get nervous again if no deal is reached by the end of this week. In my estimation, the government has until December 15th, 2012 to make a deal happen. If not, the markets will go to the next stage: panic.
The pressure is on and the question marks are plenty. This means take profits and play it smart. That is what I am doing until I see better clear but signals. 
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I Called The Latest Rally, Now Beware For This Reason
Published 11/27/2012, 12:09 AM
Updated 07/09/2023, 06:31 AM
I Called The Latest Rally, Now Beware For This Reason
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