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Thursday, August 9, 2012

Market Pattern

Recently there has been pattern of 5 days up, couple days down, then back up 5 days.
Expect that market may retreat a bit soon before resuming the up.

Gary of Smart Money tracker has additional comments on cycles, etc.
I am simply looking at the chart below, 5 days up, few days down, repeat.   since the down could at any time turn into a fireburn sell off, best to lighten up some when up.

I did not sell all positions, just lightened some today, and hopefully decent price in the AM tomorrow.

Good luck

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