The View; Bells Are Ringing
- Posted by ZorTrades
- on January 29th, 2013
Bells are ringing, bells are ringing, hear them chime, hear them chime, calling all the bullllsssss, calling all the bears, its……….you can fill in the rest. As I look over the spread sheet a couple of three things (Phil Leotardo-The Sopranos) stand out;
- Distributions days according to IBD on the Nasdaq=6
- The amount of symbols under mean reversion etf’s and etf’s trading above or below their upper bollinger band. The vast amount just tells you how far they are stretching the rubber band.
The bottom line is that the market continues to grind higher and constantly rotating from sector to sector. Stock pickers game right now. Are they going to take profits as the month ends and then take them up at the beginning of the month is what many are pondering right now with 2 days left.
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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