Doing The Breakout
Broad market breakout in effect. Lack of volume and a traditionally lame time a year to be a buyer make it all very suspect. We’re not buyers here. Looking again to sell.
Broad market breakout in effect. Lack of volume and a traditionally lame time a year to be a buyer make it all very suspect. We’re not buyers here. Looking again to sell.
Nothing can take away from the Nasdaq’s breakout Monday – leery as I am of taking long positions here… Bulls want to see tech bid well. Without it, not much can be hoped for in Read More …
Major indexes have put in a textbook like bounce off their 50-day moving averages. We’re still suspicious of any sustainability to the rally. We could easily see new highs, but broad participation and solid leadership Read More …
Two heavy distribution days for the major indexes this week makes a deeper pullback/correction likely. Now is not the time to be buying growth stocks. Our sell setup on the semiconductors from last week remains Read More …
The Bear served a clear warning to the market with heavy sell volume flooding the major indexes for Monday. Our outlook remains the same as it has for months: we await a pullback or correction Read More …
It’s good to see an all time high for the S&P 500. Now back to business. We’re not loading the boat on new long positions for some very sane reasons: Breakout growth stocks are not Read More …
Here’s a weekly chart look at quick growing Splunk, Inc. (SPLK), a “big data” cruncher that supposedly gives companies an edge through “monitoring and analyzing everything from customer clickstreams and transactions to network activity and call Read More …
That’s what we call safe money powering the Dow’s new high. It’s the sturdier, cyclical type businesses that funds have been buying to help the major indexes along to higher levels as aggressive growth stocks Read More …
Modest upside on light volume Monday isn’t much to write about. Let’s see what kind of trend earnings season will give us. Stocks that stay strong on bad news are telling us they’re really strong. Stocks Read More …