Were nervous longs and overly aggressive bears just victimized by another one of those flash-in-the-pan shakeouts that help to revitalize an uptrend? It’s too early to tell for sure, but Friday’s action was convincing enough that I am putting a couple of the longs dropped from our chart pick list on Friday, and a couple of others from the watch list, back on the list as of Monday’s open. Oddly—and this was not planned—all of the picks returned to the list were from the same market segment, and 3 of the 4 from the same subsector. Whether that says more about the market, or that segment, or my own wishful thinking, I guess we are going to find out in the days and weeks ahead. Click here to download complete report in pdf format (Professional Edition Subscribers). Try the Professional Edition risk free for thirty days. If, within that time you don’t find the information useful, I will give you a full refund. It’s that simple. Click here for more information.
We may be skating on very thin ice here, but the weight of the evidence still supports a weak bull case for the near to intermediate term. So I’m adding buy picks on the chart pick list and adjusting trailing stops to account for the risk.
These reports are not investment advice. They are for informational purposes, for a broad audience of investment and trading professionals, and other experienced investors and traders. Chart pick performance changes week to week and past performance may not indicate future results, as you know. Trading involves risk, and these reports assume that you understand those risks and manage them according to your tolerance.