Today I opened marketwatch.com and was stunned by the title, it said '' Street sentiment said: SELL''. The SPY barely went down yesterday and everytime it tried to head lower it was met with more buying! The bulls are extremely persistant. I will continue my bullish outlook as nothing has changed yet If we do head lower after the opening I expect buyers to step in once more. This being said, the weakest sector yesterday was the commodities sectors (Oil, Gold, Silver...etc) indicating that money is fleeing from those sectors and into equities. Retailers were the strongest sector yesterday along with industrials. However, I will be cautious today because if I am wrong then we are in a transitioning process and trades will be directionless. If that happens I will step aside.
Longs:
HPQ
DIS
EMC
JCP
NTAP
MCD
COH
HD
COST
XOM
Breakouts:
DD(2ID)
DLTR (4ID)
RTN(2ID)
COF(ID)
JPM> 46.00
Shorts:
ABT
AMGN
PCAR
GM
AEM
BBY
M
Longs:
HPQ
DIS
EMC
JCP
NTAP
MCD
COH
HD
COST
XOM
Breakouts:
DD(2ID)
DLTR (4ID)
RTN(2ID)
COF(ID)
JPM> 46.00
Shorts:
ABT
AMGN
PCAR
GM
AEM
BBY
M
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