In this environment, unlike most of the past 2 months we have to pick spots and assume our purchases (as we layer in) will lose money in the near term. This is different than when we buy a pullback in a market that is generally in an uptrend (mid March to late May) - where when you make a purchase on a pullback, you expect a quick bounce. So with that in mind, I am continuing to rebuild a position in DryShips (DRYS), the dry bulk shipper (with deep sea drilling thrown in); but not expecting any sustained move up in the near term. But my first buy target has been reached, so I am executing a purchase.Now, as the rest of Wall Street joins my thesis (eventually) of a global slowdown these stocks could take it on the chin from a perception point ...

Thursday’s action was quite bullish with stocks opening higher at the gate. Volume on the NASDAQ was tracking higher all day and depending on your data provider it was either higher or just slightly lower than yesterday. IBD stated they saw volume lower but with the price action on the NASDAQ it has vaulted back into an uptrend. The strength is in small cap names as rotation is coming out of Large Cap stocks into Small Cap and Mid Cap names. It is quite clear and something I will be taking a closer look at this weekend. Stocks are headed back into rally mode and would make a nice send off for the weekend if we can get more accumulation. Does this mean we have the green light to buy everything? Certainly not, we must remain disciplined in our trading. I would love to ...

I received a good question from our support forum that I want to repeat here. It's a simple request about how to model a pattern that this customer wants to see in the market.Question: Stocks Taking a BreatherWhat filters or alerts can I use to finds stocks that are, "taking a breather"?I.e. it is in a daily uptrend, but volume slows and price drops; OR, it is in adaily downtrend, but volume slows and price rises slightly.Tip: Understand the Left and Right Side of the ChartHere's a modeling tip. When I start out modeling an idea or pattern I want all my stocks to exhibit, I start with the filters. The filters in Trade-Ideas are great for describing the left hand side of the chart - i.e., everything that's happened leading up to today or this minute (depending on what ...