Re: portfolio tweaking... msft/jpm
I get the "sell what is up to buy what is down" rationale, but I can't agree with your timing both on a tactical and a technical analysis basis.
On tactics, there is clearly a rotation going on back into growth tech and away from economically sensitive stocks like banks. BTO was down again today and is now below its 50 dma, so that could be a telltale sign for that sector.
On technicals, as I mentioned a couple of weeks ago, MSFT, after correcting down from its April high, had its technicals turn up, including the MACD crossing over and the stock crossing the 50 dma. Just drawing a line with a crayon, I would say MSFT gets to $275 or 280 before the summer rally ends.
On JPM, it is at a crucial point right now at the 50 dma. Many times a stock will bounce at a support level, fooling people into thinking it is holding, but then breaking through in the previous direction. The MACD and RSI have been heading down but not bottoming yet. I could see JPM hitting previous support at $145.
Before buying a stock around key support levels, I try to wait a couple of days to see if that support is holding. If it holds, you might miss a bit on the upside, but that is far better than having the support fail and watching the stock tumble.