I went through the scans and after the big up day we had we still had a number of stocks in both scans. That tells me despite the strength there is some real damage happening underneath. Anyone FULLY believing in this rally is silly. A VIX–X (symbol in Telechart) in the 12 area is extreme low and shows investor complacency that prices will rise.
We have a put/call of .80 and a VIX of 12 and yet someone is telling me it is too bearish out there. That is funny. When I see this many ugly charts in my short scans on an up day, I KNOW WE ARE JUST IN A BEAR MARKET RALLY. And it is not setting up like it wants to last very long. I wish I could show you, ONCE AGAIN, how much money we can make in a trending market. But for now, up or down, doesn’t work very well. Unless, you buy a few choppy medical stocks. They seem to be exploding higher without any logical entry point. Oh well, I have had so many 100% to 1000% winners and KNOW BEING PATIENT IS THE KEY TO SUCCESS. Those trading the market now like a wild mad-man will be severely punished when their support buying turns out to be a real breakdown that cost them thousands and thousands of dollars. Not only will losing support killing you, but buying ugly chart pattern or shorting ugly and choppy patterns will do the same. They are too difficult to play and that is all we have now. Study my returns and shorts of November to January. We don’t have anything setting up like that. Study my 2002 bottom where I went long select top stocks for big gains. The max green BOP was all over the charts. Where are they now? Nowhere. Where are the max red BOP ugly charts to short? Nowhere. CASH IS KING!
new short positions: none
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