After a huge run up since last Monday sell off, the market appears to be setting up for another pull back to digest the recent gains. Lot of stocks were showing short term upside exhaustion on Thursday. The prudent thing to do is to set the stops to protect the profits and prevent turning a winning trade into a losing trade. The market has not indicated it has made a top yet. Therefore, one should not be tempted to short this market when the pull back materializes.
In this video, a review of the price actions for the market and the following stocks: MS, GS, BAC, GM, F, MU, BBRY, JCP, AMD, YHOO, HPQ, AAPL, AMZN, FB, TWTR, GFI, REE, SLV, GDX and GDXJ.
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Disclosure: Long AAPL, F, MU, BBRY, AMD, HPQ.
