I feel the need to address the incessant repetition of the phrase. This is profit taking, this is profit taking. Enough already!!
Try this on for size, instead of profit taking could this be what is known as distribution? Distribution happens post top, that is after a peak of significance. This is when stock is distributed from strong hands to weak hands. The necessary ingredient in this equation is strength, this serves as cover for the smart money so it can sell into any and all rallies in a bear market just as they buy into any and all dips during bull markets.
This process has been occurring after each and every leg down of this bear market. Just something to consider when pundit/shill #136 comes on pompom TV with the earth shattering revelation that this is profit taking.
Good speculating to you all and never forget that "an investor is a speculator who made a mistake and will not admit it".
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