Today I sold off all my bullish plays for a mild profit. Every single one of them had severe pull backs which shook me out. Since managing risk is the name of the game, you have to respect the warning signs.
Since I am a swing trader, I am now getting ready for the possibility of a short term reversal of this intermediate rally. Thanks to the past week or so of action there are plenty of good entries for short positions. Here are some that I am looking at
I still have to do some more due diligence before I would commit to these trades, as well as further bearish confirmations from the index.