After the markets meandered for most of the day, I liquidated 2 positions that had dropped off their highs by -7.5% as announced yesterday.
Of course, I had no idea that my trades were so influential that they confused Wall Street traders and promptly ignited a strong rebound rally during the last hour. While all major indexes closed higher, it was clearly a party of one, as the Dow was the king of the Street for today.
If this feels like a roller coaster to you, you are not alone. Increased volatility may stay with us for a while and is an indication that the market is in a shakeout mode. That simply means that future direction is uncertain and a break either way can occur at anytime.
For tomorrow, none of my other sell stops have been triggered, so I will watch and wait.