I will be updating the momentum indicators and Top 25 Lists later on today. The commentary to give on those updates is pretty clear before running the numbers.
You have been watching the markets, probably with anxiety if you are on the long side. While there was some indications late last week that the long side would take control again, it succumbed to the surging oil prices. There has been attempts to rally or hold a support levels, but they have been weak. As a consequence, our momentum indicators have run into choppy waters. Its not quite yet stormy, but pretty darn close.
You psychology should now be shifting to being on the sidelines, or going to the short side. If you insist on playing the long side, then do so with the guerilla mentality of striking quickly and getting out quickly. Right now the only sector that has some real momentum going to the long side is the agriculture sector. The oil/energy sector scares me a bit because of its frothiness.
Time to be careful
No comments:
Post a Comment