Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.



Today has been a day filled with filling. In going through the different indicators I follow (most of them I do by hand), I have found nothing that suggests a change of view. This is an oversold tape, and while the rally call has been a bit early, it should still come to pass at some point not too far away. There are two ways to look at any potential rally and how you look at it depends on one thing - you. It could be an opportunity to lighten up if you believe you are overexposed to stocks and are uncomfortable or you could use it as an opportunity to buy a bit for an oversold bounce if it were to develop. How you take it should depend on your own assessment of your financial goals, risk parameters and needs - and most importantly your time horizon.

Why do I expect an oversold bounce instead of another leg down? Basically, because the market (as measured by the S&P 500 or NASDAQ Composite) has gone sideways for at least the last seven sessions and has become oversold on lower volume without breaking down. That is a sign of profit taking vs. a sign of distribution. Again, this view could be wrong and a sign of that would be a break below 1350 on the NASDAQ Composite and 885ish on the S&P 500.

As for my view of Daisy...Toddo - you got issues bro.
Daisy may be great, but Casey is the real deal!
The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.
Featured Videos