A Gap Up and Fade
After four days of weak starts and strong finishes, it seems fitting that we gap up and fade. The action is very strong, with breadth running almost 5-to-1 positive and major sectors in the green, but we aren't gaining additional traction. The tendency is for all gains to come overnight, and I wouldn't be surprised to see that happen again.
If you have longs, there isn't much choice but to lock in profits where you have them. I sold down Jazz Pharmaceuticals (JAZZ), InvenSense (INVN), Spectrum Pharmaceuticals (SPPI) and VirnetX (VHC), all of which I've discussed lately....95 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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