In Dire Need of Some More Rest
The low-volume market rally Friday didn't do much to change my feeling that major averages are ready to pause here and consolidate gains.
In other words, after two straight days of institutional selling Wednesday and Thursday, investors still have good reason to tread cautiously. It's likely long-term investors aren't paying much attention to the increasing signs of distribution in the indices -- but if you're a top-down investor and started buying high-quality names after the market confirmed a new uptrend Nov. 23, there's nothing wrong with taking partial or full profits here. If recent new buys are struggling, meanwhile, protecting capital and keeping losses small would be a sound strategy....446 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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