I am not panic selling ANYTHING! But there is no doubt today’s action is negative and does hint that the uptrend very well could be over already. However, like always I wait to make my decision after all the data from the close is in. That will not be for another few hours.

No matter what, though, I will be locking in gains in a lot of stocks that initially have made big moves but have given so much back in a few short days that we must protect some gains just in case they become losses. So there will be a lot of selling tonight but if I am long a stock and it is still in an uptrend above the 50 day moving average there is no way I am going to sell it all.