Detroit Declares Bankruptcy

GOOG and MSFT get hit hard after earnings .  Detroit declares bankruptcy.

We hit new highs but this seems like a risky time to put more cash to work.  I will limit giving back any profits on winning positions and will look to jettison any weak positions that break my predefined support levels.

This is all short term considerations.  Longer term, no reason to think the bull run is over, unless you get caught up in the rookie mistake of being swayed by pieces such as this.

Trust your eyes, read the charts, not a crystal ball.

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