Yes, that's how we feel about this market generally. Naz has basically been stuck between 2400 and 2480 since last November and neither break outs nor breakdowns have yielded any significant results. Ok, we at DJIM normally do not talk about the overall market trend much but we feel the current state of the market may explain some of the lackluster movers out there. Will CSCO help out?, the numbers might be there but will the Naz use it to go for a ride?. Maybe it was too much to burden AAPL and GOOG with;). Sure, there are trading opportunities and some strong individual strong performers, but it'd definitely broaden the movement if the market is actually on a steady uptrend. At this moment, we are still not committing most of our cash into work. Right now, it doesn't feel as if we need to go all in in a big way, but rather, we are trading sporadic opportunities here and there. As more good earning play come out, we are sure that we'd get more action but it'd be nice if this market gives us an excuse to go big and go all in. We are definitely not there yet but we feel if a powerful move comes up, we'd be quick to get into the action quickly. Early and most of the day an overall weaker bias but early gains in DJIM names provided an opportunity to take some gains, primarily in CCF, MFW over $36. CCF is just a little too jumpy right now, we'd like to see a close over $33 and away from the 9ema.
USAP, this one is definitely a hit so far. The lack of volatility and strong action makes this one stands out from the rest of the earning play crowd. We added some today on the 3 day breakout, but will watch the highs coming up carefully.
GLDN, this one pulled a typical sleepy move when nobody is watching but hopefully you were since Thursdays alert This one sure took a while to get to this point. But we can all agree that it's been a nice hold so far during the past couple of months.
VARI, MLynch started coverage again with a buy rating and stock notched another new closing high here. We favour these kind of plays here b/c of the institutional support and the liquidity it provides us.
AVZA/SILC, these cheapies didn't do much of anything today, but more importantly, they aren't giving back much either. The longer they can hold and flatten out, the more likely the next movment will be up. Only so far these techs will go without a little help from the big boyz.