Online Stock Trading | Stocks Waste Little time To Take Out Recent Lows

Stocks Waste Little time To Take Out Recent Lows


Filed Under Market Commentary |

It pays to be sitting on the sidelines and avoiding the carnage on Wall Street.  There is absolutely no need to step into these muddy waters we call the stock market.  I do not have anything in my favor, odds are against me as hedge funds and other large market participants are vulnerable to redemptions and margin calls.  Good looking charts continue to be sold, New Lows hammer New highs, and VIX is not showing enough fear for a bottom.  My stock scans for longs continue to look horrible and the number of stocks continue to fall.  The horizon looks too dark to step into the market, cash is king and the sidelines is where I’ll be staying.

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Market Speculator

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Comments

3 Responses to “Stocks Waste Little time To Take Out Recent Lows”

  1. Stocks Waste Little time To Take Out Recent Lows : Monster Stock Trader on September 18th, 2008 8:00 pm

    [...] Stocks Waste Little time To Take Out Recent Lows Share and Enjoy: [...]

  2. zstock on September 21st, 2008 9:21 pm

    I have shorts on some individual companies.
    JCI,TOL,AMR,CAL,COF__
    I don’t have any shorts on the indexes.
    I used the $NAUD to sort of direct me on my Fri overnight selections.
    I only need a mixed market, and I think the stocks I have in short sells will fall, regardless of what the indexes are doing.
    Or some such theory like that.
    NILE and GPI are on the short sell list and 10200 is my bottom target for OCT, subject to an even lower number, if Retail earnings, are below -2% this Q3

  3. Market Speculator on September 22nd, 2008 6:45 am

    check out the weekly on GPI, may want to stay away from that short…

    same with NILE both already had huge pull backs.

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