No Stock Market Commentary For Friday

May 25, 2007

I don’t know what is up with me but I guess this market, surfing, and two hour workout at the gym the past four days have really wiped me out. Along with a spinal tap last week, I am sure these are the reasons why I can not muster up the mental strength to analyze this market.

All we need to know right now is that the trend is still very much up, there are weaknesses showing up like the six distribution days in the Nasdaq, and the markets are showing signs of slowing. However, that first point is the most important point. The trend is still up. Premature shorting could still prove disastrous as all the other attempts. We must wait for the 50 dma to fail, before we can even THINK of shorting this bullish market.

A lot of my top stocks are starting to look a little nervous. But there is nothing serious yet. I did have to sell off some CANSLIMer longs today and pair back others. But there are still plenty with HOT charts. However, a few more days like yesterday and I am sure those HOT charts will have me selling off some of those gains. I have to admit some of my favorite most pretty charts are at breaking points of becoming good charts, mediocre charts, or even just barely nice charts. So unless the buying shows up soon there could be more damage. However, for those that are not gold members, you should know I was a MAJOR net seller today as well as a net seller yesterday. So I am raising cash. You might want to consider cutting your laggards and only sticking with your best of the best. If you own anything selling off below the 50 dma or selling off on HUGE volume, you might consider cutting it.

Aloha and I will see you in the chat room.

PS–I promise a very long and detailed weekend Memorial Day analysis.

Subscribe To Site: