7-29-2013 Comments
I took the weekend off from my usual stock preparation routine. I currently hold TSLA, FB, ACT, HTZ and ILMN. I was able to add to my TSLA position on Friday and so far it is acting like past high-tight flag patterns. My current watchlist is below. I am not seriously considering shorting anything in this FED injected market but I always like to be ready for unexpected events.
The Market School Exposure Model (MEM) sits at +4 or 90% invested. NASDAQ distribution count is 4 and the oldest distribution day was 9 days ago so they will likely hang in the 25-day count for a while giving any future distribution event the likelihood of bringing us to 5 or more days which would produce MEM sell signals suggesting the possibility of exposure reduction on the horizon. NASDAQ volume is so far running light today with consolidated NYSE volume running 3% above the volume run rate last Friday. So we might see S&P distribution today.
Long
ACT
AMBA
EVR
FLT
HTZ
LGF
LNKD
OAS
Short
AGN
ARIA
COH
LPX
NTI
ULTA
WNR
Mike Scott
Cloverdale, CA