Why am I not getting any good short opportunities? I was asking myself this question today, seeing is how some people I know have mentioned we might be churning here instead of getting ready to resume the rally. I studied their opinion and after reading past notes in my personal diary, I have come to the conclusion that this is base building to move on to higher ground.
In the past when after a rally we start moving sideways and churning I will get very few stocks showing excellent entry points, unlike now, and always have been able to find shorts. Since I still am finding good long patterns and no good short patterns that is why, for now, I in no way think that we are churning. Plus we have not even hit new highs for the year yet in the Nasdaq. Churning usually happens after a new high is hit. And one final point, volume would be much much higher, if we were in fact churning. Look at volume on Nasdaq on 2000, 2004, and 2005 tops.
New Swing Longs: OPWV ADEX ESC SCI MTCT HRAY SOLD GET MOT LFL FTEK EURO HSTM
Current Holdings Offering New Entries: DCAI KNDL THOR ASR TAYC RYAAY JMDT RATE SIRF NICE CFK
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