If anyone is paying attention, they know that I have posted in awhile. As I have said before, without much of an audience out there, the motivation is hard to keep it up. However, I do update the TradeWinds momentum charts everyday and the TradeWinds Top 25 lists and TradeWinds BlackBox. If you have not been following those, you have been missing out on some excellent trend picking.
So where is the market at these days? Certainly the current trend is to the bull side and we think its a solid one. One reason we believe that is because its not just a blind across the board, rising tide lifts all boats kind of rally. Its selective and rotational.
Biotech, pharma and healthcare remain the leaders as we have pointed out for some time. Tech is coming on strong - loving those semiconductors. Housing and financials are rebounding but doing so cautiously. Of energy and commodities is taking it on the chin as part of the rotational pattern. I expect to see a swing back for those sectors to test if we are now in a bear market for those guys.
Our momentum charts are in the neutral zone, but getting stronger. If you look just at the major indexes, their momentum is now is the smooth sailing TradeWinds zone, as are the majority of stocks that we track. We don't publish momentum on the stocks because we are constantly cherry picking those to make sure we have a mix that is in the bull moving sectors.
The strategy is now to buy the pull backs, but with caution. We are approaching the dreaded September-October trading whitewhater. We will be careful to watch if our current upswings peaks just in time to set the take for the early fall plunge.
Happy Trading.
Sunday, August 17, 2008
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