The first market bounce sale is MSCC, although I added another stock that had not gone anywhere yet, so I am still technically just as long the market bounce. But I caught myself looking at MSCC’s launch, felt an imaginary hand patting me on the back and knew it was time to take the profit on a stock that was bought while the average bull was reading the headlines and sucking his thumb.
The theoretical pattern target is a little higher and it’s not really over bought yet, but see you later alligator. Just for fun, there’s the death cross of the MA 50 below the MA 200 working once again as it so often does; contrary to what TA’s who hype these things often expect.
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