John, the next rally try, if and when it does occur, is extremely important. If we continue to have low volume, low volatility and poor A/D readings into any further rally, I would sell into it and book some profits--if they still exist on the table, or mitigate some losses.
Watch the generals for any signs of cracking: (INTC, MSFT, IBM, LU, GE, CSCO), when these stocks are the last kimosabes to stay strong- late in trend stuff. If you delve into that top 30 largest market cap group, they are shooting em down one by one (WMT, MCI, T, C, AOL, PFE). We got about 15 to go for the break.
Best, J.T. |
