Collective2: Not pretty reading

My May call for a tradable bottom proved to be premature as markets took another step down on the way to deeper oversold levels. This knocked out the majority of my earlier buys for losses. Furthermore, two of the exited plays carried higher than desired capital risk: CHRK and BDY each carried about 9% risk compared to the 5% or less of other trades. Existing positions in the portfolio carry a profit of +$3,127.

Bearish action over the last few days in the semiconductor index and NASDAQ 100, as well as the struggles at the 50-day MAs from indices like the Russell 2000 and S&P, do not provide much comfort to the bulls. Certainly the bearish view as put forward by Trader Mike and Bill Cara, the latter with reference to the opinions of Martin Pring, is worth reading.



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