Stocks Waste Little time To Take Out Recent Lows
Source: http://www.market-speculator.com/2008/09/18/stocks-waste-little-time-to-take-out-recent-lows/Posted on Thursday, September 18th, 2008 | In Market Commentary
Contributed by: Market Speculator (http://market-speculator.com) -
It pays to be sitting on the sidelines and avoiding the carnage on Wall Street. There is absolutely no need to step into these muddy waters we call the stock market. I do not have anything in my favor, odds are against me as hedge funds and other large market participants are vulnerable to redemptions and margin calls. Good looking charts continue to be sold, New Lows hammer New highs, and VIX is not showing enough fear for a bottom. My stock scans for longs continue to look horrible and the number of stocks continue to fall. The horizon looks too dark to step into the market, cash is king and the sidelines is where I’ll be staying.
Enjoy
Market Speculator
No Positions
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 About Market Speculator (http://market-speculator.com)
Market Speculator began his market career shortly before 9/11/01. The methodology he uses comes from the greatest stock market traders of all time; Livermore, Darvas, O’Neil, Dryfus, etc. Decision making is based on price and volume while stock screening is done by growth in fundamentals. Much like William O’Neil’s CAN SLIM approach to investing Market Speculator focuses on a narrow amount of stocks and lives by cutting his losses early. |
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