______________
We are off to a pretty dull start this morning, with the major indices straddling the flatline. While there is no real momentum for the bulls, holding last week’s lows is paramount. Thus far, we are well on our way to an “inside day,” trading within the confines of Friday’s price swings. As the session progresses, the tougher the bulls prove to be in defending the sub-1340 on the S&P 500, the more likely it becomes that buyers will trade with more confidence. However, I will let others do the heavy lifting for me instead of aggressively positioning myself for a bull comeback beforehand.
Underneath the surface, we have a mixed bag, regarding the performance of individual stocks. While some of the commodity names are bouncing back after last week’s pounding, it could just as easily be a brief oversold bounce before heading lower.
One name that looks set up well here is BRCD, a perennial takeover candidate. Despite its reputation as always a bridesmaid, never a bride, the chart looks good to go if the broad market cooperates here.
______________
Well said !
russell trending up ..S$P down …trying to break over moving average now.
finding it difficult to remember how to short ..been so long !
Thanks
Chess, ANY thoughts on GMXR?
neutral on it for now- no edge
tx
no prob
(laughter) I can appreciate your point about the market as a whole, but you should try owning some of the specific fissile material I seem to have accumulated in my portfolio.
I’m up 2.1% today, after have SLV rip half my face off last week. Take a look at MGM, BG, AWK, CCJ, WNR as of a few hours ago, and of course SLV.
I’m having a grande time.
Great job, Cain.
I don’t know about great. Last week was one hell of a rollercoaster ride, haha. I just thought it funny that to anyone not in my specific position, the market appears “tame.”
Haha