Current State Of The Market

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.

blog comments powered by Disqus