The good news about today’s session is that our new long was up 6% today while the market fell around 2% today. So that 8% outperformance is a bit of a comfort to the fact that the market can get absolutely no juice going to the upside. Redemptions are running high in funds slightly down for the year and down major for the year. Even some funds up for the year are seeing redemptions. The fact is that people need money and when they need money to eat they certainly are not going to buy stocks. Still, we do have seven longs and all of them held in well today, minus TSYS that needs to have some taken off. Losing the green BOP and selling off right after we go long is not the right way for a long to act. In this market we need to see immediate confirmation the next few days. There are at least a FEW stocks still on my radar for possible future longs. The sad news is that a lot of these names are new because the old names we were watching for possible future longs have all been ruined (even COGT with it losing green BOP). My watchlist has ANSW, ASTM, AVAV, SQNM, PW, HMSY, CFL, ERII, HTS, CAL, FORR, and INSU on it. I hope one of these can turn into a DGLY, PDO from earlier this year or a AIPC from this summer that was completely missed by TCNet since they don’t have OTCBB stocks. Thanks TCNet!!
new long positions: none
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