While all of my indicators remain positive, my group of nine high priced leaders has been weak. Only 4 of them remain within 5% of their 52 week highs. Four are around 10% or more below their yearly highs (CMG, BIDU, GOOG, FFIV). Some of the speculative commodities are also weakening. I am more cautious when the leaders are weak. I remain largely in cash in my trading account. Will “sell in May and go away” work this year?
AAPL is going up!! I may be wrong this time, but LULU started to go up again after a 10% retreat. I jumped on LULU at $93.00 with a close stop loss. My instinct tells me it might go at least to 102, when I will sell at profit. If I am wrong on LULU, plz don’t be shy to tell me even if I may not listen 🙂