Buckle Down And Protect Capital…Here’s Why
 The market continues forward in low-volume fashion. One
good note was although we saw a distribution day in Wednesday’s trading, it
also came on below-average volume.
Â
Qualcomm (QCOM) was one of the latest names to produce a
low-volume breakout. This occurred through a double bottom pivot point of
69.10 and is trading slightly higher.
Â
Other growth names have been displaying very cautionary
trading. Digital River (DRIV) is an example as it broke out on heavy volume
only to finish lower by the close. It surpassed its pivot point of 34.04 and
is currently trading about 7% lower.
Â
Overall, this market remains extremely choppy and seems
to have a lot less going for it than recent rallies that eventually rolled
over. We have very little in the way of leading stocks and very low volume.Â
Don’t get me wrong, over the next year or so, I think we will begin moving
much higher, and I have elaborated on this belief in my service; but
near-term: it is time to buckle down and protect capital because there is
eventually a good chance we may head lower based on the recent action we have
been seeing.
Â
Tim Truebenbach