Barchart.com's Chart of the Day - VF Corp (VFC)

Random Thoughts

The Ps and Quack resumed their rally out of their recent Persistent Pullback patterns. The Rusty broke out to multi-year highs.

Futures are getting whacked pre-market. Although I'd hate the see the Rusty come right back in, this corrective action could actually be healthy for the Ps & Quack.

This corrective action exemplifies why we take profits when the market rallies and buy back on pullbacks. If you understand that, then you get it. The rest is just details. Warning: blatant pimping just ahead. Details that you can read all about in The Layman's Guide To Trading Stocks.

So what do we do?

In light of this weakness, honor your stops on existing positions and wait for entries on new ones.

For those looking for an S & G type trade, look to play an opening gap reversal in the index ETFs should it occur.

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