If this pullback in the market is a reason to enter or exit positions is obviously depending on what you are looking at. I had been looking for an entry point in some stocks that I had traded before and that have pulled back now to a point where i think i have a good risk/reward for a swing trade. I went long NFLX yesterday for a swing with a stop at around 96. I don’t think the market will crash,but even if it will crash eventually it wont be straight down.
My thesis is, that the strong performers like NFLX will not break through support areas, unless there is a total crash in the market and i just don’t think that is going to happen. I might be wrong here, but i see this as an opportunity to get a good entry point in strong stocks and not so much as a shorting opportunity in weak ones.