The Trader Daily


Bob Byrne

 | Jul 18, 2014 | 7:30 AM EDT
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The S&P 500 made it 62 days without advancing or declining 1%, but that ended on Thursday, with traders selling everything from biotech and home builders to banks and materials. The session's major downside catalyst was clearly the crash of a Malaysian Airline in Ukraine. However, between the crash, news reports that the plane was blown out of the sky with a surface-to-air missile and escalating violence between Israel and Hamas, it's a wonder the market wasn't down considerably more.

At the risk of sounding insensitive, this is one of those times we all need to make certain we're approaching the market from as unemotional a viewpoint as possible. The Malaysian plane crash is horrible. As is the violence in Israel. However, liquidating a winning position based on news reports and scary events is rarely a winning strategy. Horrible events happen all too often, but we don't find asterisks on our charts or in the news paper alerting us to that fact....391 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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