Disney. Market of Stocks. If you read yesterday’s commentary you know exactly what that means. For those that missed it, loose translation is we are in a period where certain stocks will go their own way — up or down— while the averages may not make much progress in either direction.
For example I was long Disney at 90.25. Stock rises 3% today while the SP 500 is down about .4%. As the attached graph shows Disney got itself into a critical area where reversals have happened in the past. As such, not a bad area to grab some profits. My mindset right now is “smash and grab” rather than overstay any one position.