Close To A Top

While we might make a marginal new high, I believe we are sufficiently close to a top that I moved to a net short position. I took minor profits on my pharmaceutical holdings as a matter of discipline, but still hold a large position. Have a good night.

3 comments:

MarketCynic said...

I agree, we are very close to a top, AAPL has blown out earnings, TXN also up on beating earnings. Futures are up on the news.
But I am seeing divergences as the market goes higher, warning signs are flashing. I will be looking for a blow off top this week.

caveman said...

what's your blowoff sign?

Anonymous said...

Speaking of tops I have a project for you mkt academics.

In a bull mkt run that is at least a 50% move from a certain low point (in our case 666 in March) what is the average number of new tops created?

So far in this move from March, we have now had 4 tops.

How many tops does a bull run have before it breaks down