Locking in Gains

It is another mixed day of action as the market continues to consolidate recent gains. The bears are growling that the market is finally seeing the error of its ways and will soon be correcting much deeper, but that is more hope than anything else. While there are plenty of negative catalysts, the market doesn't seem interested in acting on them. The technical action is exactly what you'd like to see after a big run: It is churning and consolidating big moves while flippers lock in gains.

I'm traveling this afternoon so I'm not doing a lot. I took partial profits in NQ Mobile (NQ), which I've mentioned before, and flipped some GSV Capital (GSVC) on the Twitter IPO news. I believe both will continue to work higher but I like to lock in some of the big gap-up gains and then look for re-entry. If I have to pay up, I will forget my sale points and pay up....536 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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