Mike
11-28-2011, 03:07 PM
Until proven otherwise I treat rallies like today's move up as the beginning of a possible short-sale set up. On a technical basis after dropping 4 weeks in a row and the last seven straight trading days in a row, the makrket needed no excuse to move up. On the flip side, today is day-1 in a possible rally attemp. We look for a day-4 or later move up of 1.25% or more on higher volume on the NASDAQ, S&P or NYSE Composite to begin a new intermediated rally. I leave those few days to the short-term players and wait for demonstrable institutional buying interest to show up.
With Pascal's money flow just abut to issue a buy signal, I am in no hurry to pull the trigger on the short side. If this rally attempt fizzles, I have the following stocks on my short-sale watch list:
AMZN, BICU, CRM, LULU, TTM
There is a new date for Marketschool for those who are interested in attending. This date was set up because of many of my friends after learning what it was about asked IBD for an additional west coast event. I found it extremely useful. All trend following systems are interesting to me and this system was developed by some of the best trend followers. There will be another Market School in Florida in March.
Sat. Jan. 28 8:30AM- 5PM
Los Angeles area
interested parties Email Bridget Francis Bridget.Francis@investors.com
With Pascal's money flow just abut to issue a buy signal, I am in no hurry to pull the trigger on the short side. If this rally attempt fizzles, I have the following stocks on my short-sale watch list:
AMZN, BICU, CRM, LULU, TTM
There is a new date for Marketschool for those who are interested in attending. This date was set up because of many of my friends after learning what it was about asked IBD for an additional west coast event. I found it extremely useful. All trend following systems are interesting to me and this system was developed by some of the best trend followers. There will be another Market School in Florida in March.
Sat. Jan. 28 8:30AM- 5PM
Los Angeles area
interested parties Email Bridget Francis Bridget.Francis@investors.com