Here’s What This Market Lacks Now

The stock market remains in an uncertain environment
for the short-term.  Long-term, I strongly believe we are setting up to
continue the move off the bottom that began in October of 2002.

 

 

Price/volume action in the
market has been very shaky as we saw a distribution day as recent as Tuesday. 
The market is lacking individual leadership in growth stocks and growth
sectors.

 

Research in Motion
(RIMM) broke out of a longer-term base, but has yet
to get any real mileage out of it. 

 

 

At the present time, there
are very few stocks that have completed bases and are ready to break out to
new highs.  If the market spends the next few weeks of months consolidating,
then we will probably see a lot more prospects.

 

There are times to be as
aggressive as possible when making money is easy and there are other times
when capital preservation are key.  The current
market presents the latter. 

 

Enjoy your weekend and time
off!