Originally Posted by
shawn_molodow
Hi-
I look through this list to find the very best, and on top of that, IMO this market is on the edge of a sell signal, so I want to be super-picky on names and entries.. this is not Jan 2013 or Fall 2010.. or Spring 2009..
I have been watching REGN for sometime - IMO, tomorrow its probably not the day .. thinking it needs time..
My best pivot ideas for trading tomorrow:
CELG, HW, AEGR & CCOI - not all of these may be in the list I posted, but they were on Th or Fri morning.. (we need to follow these names for a few days..)
Also, I live on my profits and losses, and I am strongly inclined not to trade tomorrow b/c I do not see the market as providing wind at our back.. I determine this by mostly looking at the 5d and 10d up and down volume on $NYA and $COMPQ - and only entering new trades when its all green (I cheat sometimes, e.g. I had a little to FNGN on Fri when things were about like there are right now for ) . Right now, I am about 15% invested..
If the market power trends tomorrow, of course, I am going to go long the best set-ups hard. So, I try not to predict. When I am at my best, I react..
Thanks for responding,
Shawn
I see REGN as a fifth stage base with three high volume sell off weeks and no high volume up weeks in the base. Bollinger squeezes don't predict the direction of the next move.
Mike Scott
Cloverdale, CA