Watching And Waiting
Things have
gotten interesting over the past couple of days! Complacency was
setting in on investors and a couple of distribution days seem to be helping
that out. So far, we have seen three distribution days in the past ten trading days,
but the first one was followed by three days of blatant accumulation.
All in all, we’re looking at two
days of distribution…not enough to worry. But still, leading companies are
struggling with successful breakouts. I’m looking around the market and I’m
just not seeing anything that resembles a sound company moving higher from a
solid base, yet.
Recent stocks to attempt a move higher
are Direct Focus
(
DFXI |
Quote |
Chart |
News |
PowerRating) and Coinstar
(
CSTR |
Quote |
Chart |
News |
PowerRating).
CSTR leaves a lot to be desired in the
way of fundamentals, but its success or failure is worth noting.
As earnings season gets under way, the
market appears to be consolidating. We will have to wait and watch for leading
stocks to set up, as well as the overall picture of the major indices.
Until Thursday,