Current State Of The Market
- Posted by Frank Zorrilla
- on November 13th, 2013
Here are some personal notes that I have written down for myself about the current state of the market since the middle of October.
- Longs have been working very selectively or not at all since the middle of October from a swing trading perspective.
- We have had some notable distribution underneath the surface while the Dow Jones and the SP500 are at or near 52 week highs.
- The amount of short set ups has increased but they are really not working, see; $CELG $BLK $VRX $CMI
- For the most part it has been a chopped fest for many others have seen significant draw downs while the indices are near highs.
- Over the last couple of days some Chinese stocks have shown some proof of life $DQ $VIPS $SINA $SFUN $QIHU.
- It is best to focus on stocks that reacted well to their earnings and have set up properly after their initial earnings rally; $ZHNE $DWA $JAKK $SSNI $POWI $MDR
- The key here is to be nimble and to be extremely selective until STOCKS (not the indices) show you a clear path.
The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.
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Frank Zorrilla is the founder and chief investment officer of Zor Capital LLC.He began his Wall Street career 10 days after his 20th birthday when he became a Series 7 licensed stock broker. More »
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