Trade Changes

I can look at today’s trading action in one of two ways.  Grateful that I was not more heavily invested or disappointed that my positions got hammered.  (In the case of FCX, an understatement!)  For 6 weeks, I’ve been rewarded for buying into an overbought market and today, the market came calling.  I will back out of my GOOG and BAC trades into the close.  I will hold my FCX looking for a snap back rally.  Today’s action does not alter my bullish bias towards the market but it does make me step back and reassess entry points.  The Fed possibly making changes to QE takes off some of the sugar high the market has been feeling.

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