Too High, Too Fast

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I guess it just went up too high too fast.  It was inevitable that it would let of some steam and soon.

I was stopped out while keeping a tidy profit, it remains to be seen if this is the high that will stay in play in the coming weeks.  We are certainly due some type of pullback.  It is lining up to do so; at this time of year things tend be be weaker, so I expect a 2%+ pullback from the highs before the end of Feb.  But as always anything can happen.

For now, in equities, I am back to cash and will wait and see.

Good trading,

John