Stocks took a breather today on multiple negative headlines. The negative press was only temporary but it triggered some light selling by cautious investors. It is hard to argue with the idea of taking some chips off the table at record highs. I have warned for a couple weeks that the closer we got to the highs the more volatility would appear. New highs are an action point. Investors are either taking profits because they think the easy money has been made OR they are chasing prices higher in expectations for higher highs. If all the headlines were bullish I suspect we would be seeing more of the second option. With headlines turning negative, caution is starting to grow.
New positions are only added on Wednesday and Saturday except in special circumstances.
NEW DIRECTIONAL CALL PLAYS
No New Bullish Plays
NEW DIRECTIONAL PUT PLAYS
No New Bearish Plays