Stocks Finish Slightly Higher, As Commodity Stocks Come Tumbling Down.

I was running personal errands today and only have time to make a few comments.

It was interesting to see the metals, oils, and gold stocks sell off hard and yet see the indexes close in the green. I am not quite sure what that means but I have a feeling behind totally away from the action today has something to do with that.

It seemed like the crash in the oils was caused by the OPEC quota report and the market intraday recovering was caused by the Fed head of my stomping grounds St. Louis.

The markets traded much higher volume on the NYSE but I am not sure if that is bullish or bearish with the little price action. I am leaning to the bearish side on the action. Especially with the IBD 100 going the opposite direction, losing 1.7%. If that isn't negative divergence from the market, I am not sure what is.

I still don't see any one sector shining and a lot of longs still aren't acting well after breaking out of good chart patterns. That along with all the new metal and oil shorts I got tonight tells me that this correction needs to keep running its course. If I saw more nice charts setting up in more innovative sectors I might be a bit more positive. But besides having a bunch of good longs that are not doing much I am not sure why I should be bullish at all. Except, that I know a lot of traders expect September to be Hellptember.

I don't know about this market. Where are all my pretty charts? I still say keep cash very heavy, keep all positions on the long side under 2% of your account, all shorts under 5% of your account, and stay patient for better charts and hence opportunities.

I should be back in my normal routine tomorrow. Heck, it isn't like today has changed anything...if it has it has only supported every bearish indicator I am worried about during this weak rally.

New Swing Longs (keep them tiny): ETR NWL FCSE

New Swing Shorts: KNDL ATPG SM SPWR DO X IPS PCU TTI MDG NUE WIRE

Longs Outperforming (low vol non-IBD excluded): AKAM-172 BAM-41 Q-87 TYL-37 CXW-31 HMSY-26 MWRK PRFT MA ISYS RAH STEC DKS BEBE INPH WEBX ACGL BEAS SEIC VARI IDXX NITE HCSG INWK RNST PSPT SVNT AIQ MO HNZ LMNX PT

Shorts Outperforming (all): SWC-44 ZRAN-32 CPE-15 NGS-15 DSL WTI NCI EXBD HYDL USU GSF KG KMP KMR ASH PTR IXC MTB TDW REP ARLP CX ASA

Completely Cover Shorts: BPFH VOD WERN

Stocks On Radar Screen: SIMG CWTR TRLG QI AWH VOCS DECK SPG TIVO PLC DRY PCC PCCC