Some notes that I have observed before this bear attack. I could maybe use this in the future for signs of a top.
- Portfolio was moving way too fast. I even thought I’m going to make a killer year. Overconfidence.
- Good news with Bad market action. When the news released favorable GDP numbers, the market was sold off.
- A lot of stocks were hesitating to close to new all time highs. There were noticeable number of false breakout stocks.
- During March and April, I was trying hard to trade stocks. A lot of strong stocks were moving sideways though.
- Declining number of new 52wk high stocks and increasing number of new 52wk low stocks.
- The lagging sector was trying to perform. PX/LC/MA tried to rally and failed.
- There were no basura plays.
- There were very few strong stocks performing. I can count them in one hand. DNL/TA/LTG.
I am 100% cash right now. I waiting for the market to form an uptrend before going in again. Congrats to all those who took profit in April, to those who sold in May and went away, and to those who are still positive this year! :)