What’s Next; Positioning Myself for Continued Cash Portfolio
Source: http://www.market-speculator.com/2008/10/28/whats-next-positioning-myself-for-continued-cash-portfolio/Posted on Tuesday, October 28th, 2008 | In Market Commentary
Contributed by: Market Speculator (http://market-speculator.com) -
Monday’s last 10 minute breakdown showed stocks are still decisively negative. The trend is clearly down or the path of least resistance is down. Whatever the reason for the breakdown, it happened and it happened very fast. At any rate, the sell off was a clear indication stocks have a lot of overhead resistance to work through. A sign that there may be worse things to come. Strangely enough we are in an attempted rally as Friday began Day 1, but do not be fooled as there is little buying interest in this market. We continue to face a toxic market where wild intraday swings rule the roost and cash continues to be the best medicine to avoid this carnage.
Enjoy
MS
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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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