Good morning!
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.
Talk soon,
Al Losada
Founder | SimpleOptionStrategies.com
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