Comments posted for Monday Oct. 9th.
To say the market internals look bad would be an understatement. The screened stock ratio was 10 to 3 favoring shorts. It may be darkest before dawn, but at this point it is so dark I can't see good enough to tell how much darker it can get.
My weekend reading was full of very, very bleak forecasts, anywhere from the end of the 10 year bull market (this was a mild one), to the end of capitalism as we know it. A referee should penalize the bears for piling on, where were they a month ago before the techs lost 30 to 80% of their value? Anyway, stay in "lite" mode, it would be nice to see a selling climax today, but if the bears are half right, today will be just the beginning of a feeding frenzy on some bleeding bulls. Guess we'll just have to stay tuned.
For those inclined to trade today...check:
Long: WDR, DNY, JMXI, ETR, SVU, VLO, TNOX.
Short: AXP, ADI, SCH, TLGD, PCS.
Good Trading!!
Sam
savvy-trader.com |
