After 4 up days in a row on the SPX, I am getting concerned that the odds favor a pullback, in addition to a possible news driven sell off.
Will the market sell the news of a deal in DC? Will we get a short lived rally on the news as the less than professional money rushes into the market, only to be slaughtered like sheep? Will we rocket higher as if the 50DMA does not matter anymore? Who knows.
The point is that in order to manage risk, I am taking some profits off the table to make sure the hard work of buying at the right time (last Wednesday) does not become spoiled by overstaying my welcome. I still have about 30% in the market.
Check back later, I will explain in a video why selling some of my holdings today, was an exercise in risk management.