The reappointment of Ben Bernanke as Fed Chairman and a better-than-expected consumer confidence report prompted folks to move the major Indices to the highest levels of the year – before later giving up some of the gains. However, the action was decent – and the dip-buyers once again were hanging around.
Thus far the market seems in decent shape – and the Bulls are still in control.
However, we believe in keeping a sharp eye out there – and think it prudent to tighten stops and be rather ambitious in protecting gains.
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