Bam! Thursday Gets Hit

Called this.  Meanwhile, education stocks are holding ground.  Down very little. 

I would be careful with buying this market dip.  Although we are down, it’s not really a good score for the bears and shorts.  I’m going with the two-day chart, and we haven’t really moved much on the big three (Nas, SP, Dow) which is probably why we are seeing some late day buying.  So, although the market is showing some red, it’s not as dramatic as I imagine it could be.  It will take a multi-day reversal to get the correction I’m looking for.  IBD calls  them distribution days.  Let’s see if we can get some of those next week.

Stocks to watch: 

[[cagc]]   – buy point triggered yesterday.  pullback from highs.

Big Lots, Inc. [[big]]

Tenaris S.A. (ADR) [[ts]]   …big hit today after earnings.  Would have been a great CC play no?

Owens Corning [[oc]]

Links:

How to Fix the NBA  … how do you fix an industry that spends $11 million easy on guys to give out high-fives?

Get your Weezer Snuggie, better yet, get your WTF-Blanket.