Everyone (bulls and bears) that I talked to today felt drained. This market is sucking the life out of a lot of people.
Today saw 151 new breakouts, but only 17 were bullish breakouts: PFBX, THFF, WHI, IESC, LJPC, MTXX, DMF, TGS, CPCF, SIRO SONO, CYBS, KEYN, GNI, SSFN, VQ and OMEX.
These are not leading stocks. They are bullshit stocks. Where are the leaders?
This market has the feel of one that is set to have another leg down.
Here’s a new “short” list I compiled:
Aerospace/Airlines: COL, LMT, RTN
Auto Parts: CTB
Banks: CPBK, UBB, WAIN
Construction: KBR, LOW, MLM, RMIX, TWP
Computers: SNDK, SYNT
Electronics: ARW, FLIR, VOXX
Machinery/Tools: DOV, EMR, ETN, IR, NPO
Metals: CCJ, PCU, TC
Oil & Gas: BBEP, BTE, CPE, CRK, DVN, OIL
REITs: AVB, ESS, HR, KIM, REG
Retail: JOSB, M, OMX, PLCE, TGT
Semis: FEIC, LRCX
Software: DMAN, JDAS, LFT
Steel: AKS
Telecomm: CIEN, NII
Many of these will be going to zero, as they are on their last legs.
Have fun. That is all.
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