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Strategies & Market Trends : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?

To: Johnny Canuck who wrote (56803)	7/24/2023 3:48:58 PM
From: Johnny Canuck	Read Replies (1) \| Respond to of 68598

Remember to honor your stop losses. I am pro-actively taking profits on partial positions this week in advance of key tech earnings. More that 40 percent of companies by market cap will have reported by August 6, Initially earnings from semiconductor companies indicate continued weakness in PC and mobile device demand and that AI demand is not offsetting that weakness. Normally I would let my stop losses take me out but I have a few positions that have run too far to fast and the weakness in the COMPQ has me nervous. I want more cash on hand. I will look to re-enter if there are pullbacks. Keep in mind the summer duldrums is still a pattern as demand is weak overall as people focus on vacations as opposed to consuming products. Consumer discretionary have been rising like the COMPQ but us pulling back in the same type of pattern as we see rotation from the high flying tech to more old economy stocks and widows and ophan stocks.