The Bears sure had to love yesterday's action. Every little attempt to rally got sold off.
And now its looks like the small caps and and techs are goings to sink to catch up with the already sunk big caps. Is that a good sign for the hopeful longs?? I don't know. I do know that this market is obsessed by oil and until the fixation breaks it will control how the markets move. I am also starting to feel that the financials are being beaten down even more because of the fear of the oil bubble bursting and another round of derivative speculation coming down on their collective heads. I have no evidence of that, only my gut.
There is nothing to be excited about in our momentum charts unless you are a Bear. I keep wondering when we are going to get the oversold bounce......
I do know that our Tradewinds Black Box continues to generate some real nice short term trading plays. Yesterday the Box generated 9 winners out of 12 picks, with three of them returning over 4% each yesterday. But nobody is watching so I will just keep these to myself.
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