Thursday, December 10, 2009
ENTANGLING: UNFAVORABLE MARKET CONDITIONS
RANGE COUNTER: 21 DAYS
Range counter is at 21 days now. Not all that much to discuss again today other than to reiterate what we have discussed for the last few weeks: “range range go away, come back another day”. It has been a long time since I have traded a market that has gone sideways for this length of time and it is testing my patience, along with not a few others. I will pass the test as sure as this range bound market will pass as well. Our stock selections have not changed all that much as there is little to add and little to take away. Several big names did show up in the crosshairs stock screen but until the market gives direction I am not confident in any of them (SEE SBUX BELOW). They will be listed for reference anyway. I would direct you to my latest blog post as it could be helpful for what may be just around the bend. Check it out: Learning How to Trade in a Bear Market. Keeping with this same line of thought, in my weekend edition we are going to look at several potential “Bunker Building” plays. Until then enjoy this boring market.
