Back From My Travels

It’s been a whole calendar month since I last set foot in Canada.  I was in Madeira, then Jersey Channel Islands, then England, then Scotland, then back to London, England again.  Hence the reason for my lack of blogs.  However, I am back and as it stands, the market is consolidating around the highs.

Obviously the current trade is doing rather well right now, and earnings seems to be good in the tech sector at least.  Apple had a good report and as I type this Tesla is up close to 5% after hours.  What it does next is as always anyone’s guess.  Just look at the market action today: Greatly received Apple results caused a gap higher at the open, but then the market sold off only to recover into the close.  Therefore, today’s quote is even more apt than normal, as this is the type of market action that causes losses to the impatient.

I have no prediction or even a bias as to where this is going.  Whenever the market has made fresh highs it’s even more challenging than usual to get a feel for direction.  This is why trading is hard, it’s so challenging to let winners run and take losses…small losses that is.  But that’s the name of the game…

So, I hope for more and a strong finish to the week, but, as it stands….nothing to do but hold.

Bring on the bulls!

John