Online Stock Trading | The slide continues

The slide continues


Filed Under Market Commentary |

The fall continued today…aaahhhhh…Don’t run for the hills just yet.

By now, anyone who reads this should be at least 25% cash or more!!! I am
personally at 35% cash. I have a few winners PRFT/HOM/JSDA that are still
working and I have big positions…

The HILO was finally to the negative side today. Advancers lagged behind
decliners again…same story as yesterday. A bright spot is that the decline
was not as bad as yesterdays and volume on the Nasdaq was lighter than
yesterday. This tells me that selling did not acclerate faster than yesterday.
A good sign. Not a thick silver lining but at least something. What to look
for the next few days??? We need a few more big down days on lighter and
lighter volume…then, when we start to turn around, we need the upside volume
to outpace downside volume. While we wait for the market to settle and work
itself out, we wait patiently and look for potential buys…stocks that are
putting in sound bases, increasing sales and earnings!

Now if we get selling that becomes more heavy and buying that becomes lighter,
it’ll be time to sell and go 100% and wait for proper chart setups for shorts.
Good candidates will be HANS/ERS’ of the world! Basically, any stock that has
turned over from being a past winner.

I haven’t mentioned this but if you are on Margin GET OFF of it…until we can
turn around and get a positive move!!!

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