Random Thoughts

The Ps and the Quack ended in flatsville on Wednesday. So far, they remain in uptrends out of their recent Persistent Pullback Patterns. Once again, sooner or later we'll see some corrective action. Since the futures are weak pre-market, maybe that test will come sooner rather than later.

So what do we do? With the market flat to soft, I'm still seeing a few pullbacks setting up. Therefore, the plan remains the same: Continue to look to add some new positions. As usual though, just make sure you wait for entries. And, honor your stops and take partial profits as offered on existing positions just in case the next correction comes sooner rather than later. It's too bad there's not a book explaining all this money and position management in detail. Wait! There is: http://tinyurl.com/2vo395r

Reminder: Chart show today. I have a lot of good stuff to cover plus you guys always give me fodder for my tangents. Call in sick if you have to.

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