Pin your favorite financial page to the wall, take 10 steps backwards, place a blindfold over your eyes and throw a dart at the wall. If you hit the paper, you can buy that stock, it doesnt matter what they do, just buy it, the stock is guaranteed to go higher. If you landed on a biotech stock you might even make 20, 50 or 100% today!!
Everyone loves a bull market and this bull is kicking some major bear tail right now. The velocity of this rally has reached an unsustainable pace and the name of the game is now protect your gains. There is nothing in the current action of the market that suggests there will be a large correction from these levels but the higher we go, the further we get from solid support levels which means when a correction does come it is likely to be swift. Don’t become caught up in the emotional cycle which plagues most traders, instead look at the markets with a cold objective eye and manage risk, that is the job of a trader.