Some Market Moves to Discuss
After a very nice relief rally in the broad equity markets, I took some profit in a couple names that I've previously mentioned and I closed out some trade ideas.
We’ve had a really nice bear market rally in the S&P since mid-June lows; it’s somewhere between 15-17% from the start of the rally depending on which day you pick. But, it’s important to remember things don’t move in a straight line.
Even with the Fed potentially pivoting later this year (I still totally believe that will happen), it doesn’t mean the ride in equities won’t be bumpy. I think now is a good time to take profits or even cut losses in some stocks. That is exactly what I have done over the last 48 hours…
I’ll provide insight on each of these moves individually in a moment:
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