Thursday, May 18, 2006

Stocks Reverse Again, Closing In The Red; Nasdaq 8 Straight Days Down.

Market Commentary Will Not Be Posted For Thursday.

Nothing has changed that I have not talked about the past seven days. Please, re-read or read the previous seven post and you will know exactly where we stand.

All I can add is that there are a LOT of stocks showing up on my short scans that are completely broken and any rally is a short and not a long. This market is going to need a lot of time to fix itself. The lack of longs and complete overload of shorts tells me there is more downside to go, even if we do have a rally at these levels.

New Swing Longs: CBEY -- for more info on longs go to Investors Paradise.

New Swing Shorts: TTM IEV IYM CBSH NBR SGY BUCY EWZ RTP IPS

Shorts Still Watching For Entry: GGB IIF SSL BLDR TNT VTI

Longs Outperforming Market-number is % gain since purchase: LMIA-127 HOM-101 AKAM-104 CBG-111 TSCM-131 SMDI-141 TFR-109 IVAC COGO-64 ATHR-83 HSR WDHD WF TGE NNDS-37 HEIA-31 LYV VIMC-63 AOM IHS-28 BWP IT-29 SMSI-59 REFR TMG MGLN KNXA-65 ILA DCEL PRVT CPTS-25 NAII MEND

Shorts I'm Holding: SIVB ELY NVT CRXL SWC JOYG PNY BPFH SFD USG ASA AMH TMO DIA EWY CLF WSM CE DB ILF AMAT FCX CHN

Stocks On Radar Screen: CXW PCLN ECMV SCL

2 comments:

Anonymous said...

Rome wasn't built in one night...

Anonymous said...

hey josh, i'm kind of liking the action and volume in FMCN today? what do u think, i'm going to watch it......and HIBB looks ugly on weekly trend broken