New Buys are hard to find…

So we had a huge distribution day…with that said I am having trouble finding new buys and adding names to watch for shorting opportunities. By no means do I think shorting is something to do at the moment. But, it doesn’t hurt to prepared!!!

What to do? First things first, any NEW BUYS must be smaller than normal. Rather than getting into 50% of the position on the first trade. Go in at 30%, then pyramid from there. 3 out of 4 stocks will follow the basic market trend therefore, any stocks that are bought right now should be taking with great care.

Here are some new buys on my list:

AMOV - 41.10 / ARD - 36.94 / ARXT - 44.33 / BWLD - 43.42 / EGY - 7.88 / FMD - 48.84 / FTO - 65.18 / MVK - 58.56 / OIS - 43.05 / PHX - 22.60 / REM - 46.14 / UPFC - 32.04

As you can tell, it is a small list!!! I’d get into the shorts but, I don’t want to give anyone the wrong idea. I am not shorting….yet!!!

If I were try to predict where we go from here…Nasdaq goes down to its 200dma and the other indexes hang out between their 50dma and 200dma. But, who am I to predict where the market goes!!! Just go w/what Mr. Market tells you!!! It is telling me that I need to cut laggards, take profits, and go small on any new buys.

Till next time, good luck…

Get lean and mean!!!

MktSpec