I have not done that much as far a trading this week. Sometimes it is best to sit and watch, or as Fly likes to say, “Go eat a sandwich.” The setups are just not there, and if you try to force the trade, it almost always ends up bad.
Today’s tape looks terrible, one that could cause a significant shift in market direction, but it is important to be patient here. I believe in a few more days setups will start to take form, whether it be long or short, and then we will strike. I must admit, it is tempting to head to the FAZ-mobile, but I must refrain.
For those interested in playing some downside, take a look at this screen inside The PPT. It was created by The Fly, and has produced some huge winners earlier in the week. I will list the top ten in order by negative hybrid score, some of these charts looks amazing:
- Aetna Inc. [[AET]]
- AFLAC Incorporated [[AFL]]
- Assurant, Inc. [[AIZ]]
- AMAG Pharmaceuticals, Inc. [[AMAG]]
- American Superconductor Corporation [[AMSC]]
- Associated Banc-Corp [[ASBC]]
- AsiaInfo Holdings, Inc. [[ASIA]]
- [[AZ]]
- CB Richard Ellis Group, Inc. [[CBG]]
- Chicago Bridge & Iron Company N.V. [[CBI]]
Full results from Mo-Mo Screen can be found here
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Several insurance companies on the list. A flu pandemic adds another dimension to the insurance companies should the situation worsen.