Today we got pretty decent news, the kind of news that has sent this market higher for quite a while now, but not today-nope! It's called a change in sentiment and the market is spooked by something, my guess is uncertainty as it relates to our auctions of debt, the healthcare bill, possible downgrades, the fact that the real unemployment number is close to 1 in 5 people are out of work or under-employed and it's on a rising trend-by the same measure, the Great Depression had a reading of 25%-we are at 20%.
Tonight's List-
You'll find everything is at market and everything is short. If you are observant, you'll find that many ideas are in the same industry group-don't pick more then one unless you'll split them into half positions (avoid over-correlation). These are weak groups and stocks-I'll continue to add to them.
You can also get some short exposure on the market via FAZ or any of the UltraShort ETFs for the major averages. Again-watch the correlation-NOT GOOD RISK MANAGEMENT!
I'd suggest getting your toes wet in these and recent shorts I've posted (take a look at GOOG and AAPL as well), but let the market prove it's intentions before adding to the positions or making them full positions.
If anyone is enjoying any of the high-flyers that are trending up-email for the stop or use my Trend Channel if you have it.
Thursday, March 25, 2010
CHANGE IN CHARACTER
Finally, we see a change in character follow through from last Friday, it may not have seemed like much, but the market internals give it away. Take a look at the short positions. The longs, especially the ones working like BEE, RNN, ACAD,CIGX, etc should be switched over to my trend channel, if you need the stops, email me.
Uncertainty has been reintroduced into the market in a big way and the dollar was proof positive of that, now for the market to catch up on the downside.
Uncertainty has been reintroduced into the market in a big way and the dollar was proof positive of that, now for the market to catch up on the downside.
