Wednesday, January 27, 2010

Strange Times

The market is due for a bounce in my opinion, it looks like it wants to bounce, but it is not acting well-that makes this a very dangerous time. There are a ton of great looking shorts that if they just bounced, would be perfect. On the other hand-the market doesn't need to bounce, it's not oversold, it can continue down. So it's a tough call right now, but I'm going with "wait for the bounce". In the meantime-longs that still look good to me:

SSN, TXCC, MBRK, CXM, CRTX, FOLD, MTLK and BOFL

All the other ides will be on the spread sheet, just be patient, you'll get a fat pitch. And if you do go for the shorts now, thinking you'll miss the bus, be careful and limit those positions so they can absorb a bounce.

Good luck.

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