The stock market was just as quiet on a full Friday post-Christmas session as it was during a half-day pre-Christmas session. I haven’t quite seen volume be this low before on a full day but it did happen and left my two main long scans with only two stocks in them. Neither one was close to being a long but after reviewing all of my long scans I can say that we have some stocks that we should definitely watch for a breakout or bounce off the 50 day moving average with the right volume/BOP requirements. KIRK, BFBC, GB, SMG, MAXY, STSI, LZR, PW, OPTR, JAG, IAG, ANV, LORL, ROCM, MDRX, ABAT, AAI, PLAB, RIC, FRD, HSNI, HEV, AWK, SHEN, CTO, FORR, TWGP, MMSI, EPIQ, and PSMT. Although some of these stocks are still a long ways away from building a correct right side and breaking out, they are at least forming bottoms, with some forming right sides, with excellent price, volume, and BOP characteristics. Let’s hope that the stocks listed here today and listed in my longs section the past week will continue to work on themselves so we can get some strong longs like we had earlier this year in DGLY and PDO. 2008 was BY FAR the worst year for winning stocks in my ENTIRE 13 years of investing (April 1996-January 2009). As you can see by a 12 out of 13 year count, “near-perfect to perfect to HOT!!!!” charts do show up more than not. This was just a bad year for big winning stocks (2001 and 2007 were weak but not death like 2008). Thankfully, as we can see by using history of the 30s and 70s to the 00s, we will have another bull market where big winners will come out. Right now, cash is still king, until the market starts to rally on strong accumulation.
new long positions: none
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