It should not be any surprise that there are no new longs. It would have been nice if one or two would have shown up but since volume was so low and the market fell almost all day long it is not a shock that nothing showed up. The one great thing that happened during today’s session (well, two) was that stocks rallied hard off the lows in the last hour to take the indexes to a reasonable close and thus not make today look too ugly. The other nice note was CSKI. This new long is by far one of the prettiest new longs we have had with growing green to max green BOP, the strong accumulation, and great price action. That action in that stock, with TSYS and the rest, makes me confident that this might end up being a low volume holiday-short week pullback that could then be followed by a higher volume rally in January. Now, obviously, the big trend is very down and I don’t think chances are that high of this happening. But in the short term things are starting to look a little more bullish. However, ultimately, a lot more work needs to be done before any “hot, near-perfect, or perfect” charts setup. A complete death in IPOs doesn’t bode well for the future either. Here are some stocks that I am watching for potential longs sometime in the future. UBSH, AAON, JJSF, ACET, VASC, ANV, FRD, HTS, MAXY, IAG, AAI, PSMT, PW, UVSP, IOT, AGNC, ALK, AWK, QSII, ATHN, and MFE all have something within their patterns that I like. MAXY is the most promising. Merry Christmas and Happy New Year everyone!
Remember, there are only nine more days left to take advantage of the 25% off monthly or yearly special. I will not be running a special this large for another 12 months and then will only run it if every other financial website is. This market will turn and I guarantee (just look at my Past Big Winners) that you will not want to miss the stocks I will be going long when that turn comes.
new long positions: none
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