The obvious continues…
The market remains overbought, extended, and at formidable resistance.
The Nasdaq was not able to break above its 200-day moving average yesterday.
It does remain in a short-term uptrend.
We will just have to wait and see if it can break above there or finally turn back considerably.
Not much in today’s report as you can see.
However, that in itself says something.
If I can not find any high raked stocks setting up in bullish technical bases, then there is nothing to do.
Best to just wait it out in cash for the time being.
On Monday we had what looked like a great breakout. Actually if you include the stocks at my other site BuyingBreakOuts.com then we had several breakouts that morning.
CMN, CALM, and GLOB
CMN – Not doing horrible, but between closing off of the highs on Monday and yesterday’s loss it is getting back into its base.
CALM- Sold off yesterday with volume, on what was a relative calm day in the market.
GLOB – Major fail. Down -4% yesterday, and that is off the day lows. I sent a BUY: TradeTicker Alert in the AM and then a SELL: TradeTicket Alert in the PM just before the close.
Odds; not even 1 out of 3. Not what we are use to dealing with.
I will continue screening for potential LONGS or SHORTS as I do several times a day.
If I feel real good about getting into anything, I will let you know via email.
James F. Taulman - For more than 8 years James had served as Editor-in-Chief an independently licensed website that offered stock reports and services based on the CAN SLIM® investment system.
He has developed a knack for being able to quickly and accurately analyze high-ranked stocks based on this winning investment strategy. Over the years, Mr. Taulman has enjoyed assisting individuals from professional money managers to private investors with their needs in relation to implementing this investment approach on a daily basis in the current marketplace.
Each Sunday you could hear him deliver his weekly market report as part of the “Your Money Matters” radio program on ABC and CBS radio networks.
James now runs two websites and a portfolio service where he features select stocks which match up very favorably with the guidelines of the winning investing system.
At his long-standing
His newer site,
Most recently James introduced -
He designed this service to take only what he sees as the most sound stock selections from all of the services which he currently offers. This new service is basically how he uses the information which he has available to him, to trade a personal brokerage account.
Please feel free to email James directly at email@example.com with any of your questions or concerns, as he would be glad to assist you.