daytrade diaries... june 18, page-98

Whilst many on this thread may not take the time to read this post, I feel it is important to look at the US markets for where our markets may be heading.
After a good 3 month rally the DJIA & S&P 500 have both broken through their trend line while the NDX is sitting on its trendline. These movements make me very cautious in this market & as such I have moved to a large cash position.
The next few weeks sees tax loss selling, but early July will also bring selling from investors realizing profits they have made in the last 3 months.
Holding cash provides increased purchasing power, if the market does go into a downturn.
Personally believe it is a time for some caution & cash reserves.
Regards
Buffett
PS No investment advice given please do your own research.