Monday, August 10, 2009
Thereby "Hang"'s a tale
or a tale be told by the Nikkei. Hang Seng or Nikkei, its one place I look [ ASIA ] to get the feel of money flowing into or out of equities. Right now the Nikkei is up 1.25% and the Hang Seng up 2%, so we shall see what EuroLand does in the early AM when the flow of cash washes over them in a couple hours.
I will continue to engage the long side of the market until it tells me I should let go. Do I think this is a BULL market or a market of BULL ? Frankly I dont know. All I know is what my indicators show me and that is equities, generally rising from an inflow of cash, maybe like the "CHINA SYNDROME" I wrote about earlier. Some of the equities up moves look tired, but there is rotation going on amongst them, so it is a "WAIT 'n SEE" basis upon which I am working. Yes I have no faith and am skeptical.
I am also currently on the correct side of this market, at least for now.
Some of the stocks I DID NOT select last week, for Finalists, were:
ROY ; ODP ; GNA, and ZLC. They did however get Honorable Mention in the Mid-Week survey.
As you can see, Mr. Nasty is showing fatigue and a little self doubt, but still UP, so we are still IN, for now, at least.
My thought here is to observe stops in a disciplined manner, and if you feel threatened, tighten them until your comfortable. Lots more candidates, every week.
Subscribe to PEAK PERFORMANCE PICKS and you'll see what I mean.
Best of Luck