Well it is definitely getting more bearish out there but not extreme yet. I still know a lot of ppl trying to play from the long side and are trying to catch a falling stock market all by themselves. Shame on them.
Since the start of the year I have kept a diary of stock that either look nice or I take a position in. Today was the lowest amount of longs I have entered that looked good. And today none of them are worth buying but still worth holding are FINL and PSS which both made nice strong moves again with good volume. PSS bottomed in November on big volume, exploded beginning of March and has shown consistent accumulation since then. Chart also shows very few distribution days in it. Nice green BOP also on TC2000. FINL made a nice cup/handle base from April 04 to Jan 05 breakout. It wasn't perfect but since the breakout it moves up on strong volume and pulls back on little turnover. With retail doing very well in this environment, both seem like ok longs to have a small position in.
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