How To Stay On Course With What The Market Is Doing
I’m still finding the evidence
for further upside to be less-than-compelling as low volatility readings, an
intermediate downtrend in place and growth stocks, that on average, still have
their work cut out for them, continue weigh on my bovine instincts.
However, if I’m going to successfully stay on
course with what the market is doing, and keep the ego in the back seat–one
thing’s for sure, I’ll be looking to focus any longs in stocks that I consider
to be in the best position fundamentally and technically.
11:24:19
Intraday Setup Alert
Countrywide Financial (CFC),
from TMs
Intermediate-Term Report, triggered out of a daily chart handle in today’s
trade. Intraday, with the issue approximately 1.5% thru its pivots–CFC has
formed its first intraday consolidation since its move through the 64.80 trigger
level. CFC is up 2.06 at 65.66.
Â
It’s definitely anything but easy considering all
the evidence, but in this market, I’ll be glad to take anything that’s making
‘cents.’
Chris Tyler