Markets are slightly down this morning probably due to the foreign policy decisions that have affected Afghanistan, the potential acceleration of the Fed’s tapering announcement and the risks associated the Covid variant.
While the market always climbs the wall of worries, there comes a point where events that may not be priced in to markets that are always forward looking. This is the case with the events that I mentioned above. The market has moved up 270 SPX points or 6.5% for the past eight weeks. That is a significant move in such a short period of time. We should all expect some corrective price action as a result. No one should be surprised but most are when it does happen.
So I highly recommend to take some money off the table if you’ve benefited from the higher prices. I can assure you that you will not miss out by being prepared to buy the stocks that you love at lower prices.
Founder | SimpleOptionStrategies.com
P.S. For live trade alerts, please check out our SOS Trade Alerts. We will be opening to new subscribers on Aug 3rd, 2021.
You can also check out my YouTube Channel at SOS YouTube.
None of the content published on SimpleOptionStrategies.com or within SimpleOptionStrategies.com’s Telegram Trade Channels constitutes a recommendation that any particular security, portfolio of securities, transaction or investment strategy is suitable for any specific person. SimpleOptionStrategies.com is not responsible for any losses incurred as a result of using any of our trading strategies.