Job Report stunk the market up pretty severely today – Market was expecting losses of 170k instead of 263k. I though Obama said he saved 2 million jobs already????? Anyways, I got out of my Apple (AAPL) position this morning on some analyst saying some positive stuff about it. It was a great opportunity to get out on the up while everything else was on the down.
There’s a good chance, and I mean a good chance, that we may have seen the top of this rally. I’ve been bullish up until yesterday (even though I hated being such), because frankly, the market had thrown out logic and rationale, and I wasn’t about to stand in its way. Well, it looks like the scales have been lifted from the market’s eyes, and has gotten a good dose of reality and I’ll be trying to get out of any position I can today. I have raised my stop-losses in all of my positions so be aware of that too.
No stock-watch today, I want to see how the market plays out today, and then go from there. I may play with some ultra-short ETF’s here and there throughout the day though.