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Originally posted by billyjoe
Billyjoe, I could not find the groups. If you know a ticker for each group post it. I looked and may have passed then over because I’m looking at 239 groups..
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Billyjoe, I could not find the groups. If you know a ticker for each group post it. I looked and may have passed then over because I’m looking at 239 groups.. -
If your talking about Lumber production LPX has been range bound for a good while. It is currently consolidating, but on lower volume so this is a god thing. I think LPX is ok. I dumped it last week because it was not moving for me. Took a small 3% profit on it. It might make a trip up to old highs, but then again the market is not behaving well. I’m bullish on LPX down to 26.92. That is the lower range of current area..Comment
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Runner,
You've got the Wood Products . Three others UFPL DEL 5NBD.
I can't find any in the Electrical Parts Distributor group yet.
billyjoeComment
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Originally posted by billyjoe
Ya, I got it under Materials & Construction- Same group as LPX.Comment
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I’m BEAR on STEEL stocks as the sector is not looking good. In fact steel might be a good short off current highs. Bad groups or those that have been oversold for a while are showing a little upside. Retail at this time is not a short..Comment
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Oh boy, the market is getting slaughtered...I don't think we got this beat up in a while...
I will be shorting very soon, but I actually went long on the QQQQ's at the close as a bounce is very likely tomorrow and that is when I will sell most likely.
Did you guys notice the crazy bounce at around 3:40 pm? something like 90 points on the dow in 10mins!Comment
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You just might get the bounce, but I'm not playing into it. Good luckOriginally posted by dmk112Comment
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Just a few thoughts. I think it is to late to jump on a short side right now and the risk now is more then the reward. I say this because the market crashed down real fast. Sure you can find then and many will work out. I’m going to wait for the first rally attempt back up and then attempt to get on the train as it is leaving the platform. I think early this week was the time to take on new shorts. I think now might be a good time to put together a list of energy related stocks and move into stalking mode. Why energy related stocks? They are through for now IMHO. Look at the resistance these boys need to fight through to return to new highs. Of course anything is possible and a big hurricane could spike us up quickly, but who knows.
I’m seeing all the leaders in the sectors looking for a life jacket as the waves swallow then up. Right now I’m not sure who is in the top leadership and now will just wait and see who wants to make a move.
Believe it or not airplane stocks have been performing well this week, might be due to energy crashing. As for me I will sit on my hands until the eye of the storm has passed and not trade. Sure we very well might find out tomorrow or early next week that the storm has passed but remember it is calm in the eye, but soon the back side of the storm hits ya. One way or another we will break this range and I think we stand a better chance of breaking out to the down side, but hey we shall see.
Use caution and be safe out here because the green monster wants to swallow your money and leave you with nothing!!Comment
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Good post, Runner. Right now the market is not in a place for new longs or shorts. I call it $$$ grinding mode.Originally posted by Runner
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Some observations...I think we bounce from here.... better rethink shorting...although I agree on energy (actually commodiites in general)
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I like this chart
Here's a chart explaining the business cycle's effects on the various aspects of our economy:
Click on the chart; then click again.Comment
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Well I guess we got the expected bounce we were all anticipating. Morning pop did not last long and the Bulls are going to need to do better then this. I’m sitting in the Bear camp right now and will look to short on the first rally attempt failure. Not sure when this might happen but the next few weeks will be rather interesting. Many of the so called leaders did pop up today, but they very well might begining a transitional set up for some nice shorts.
Current steel stocks below the 50dma:
CRS WPSC NSS NWPX AKS STLD IIIN RESC TXI MT ATI
Oil related Stocks below 50dma:
BP PTR COP XOM MPET TGA MMR EGY GDP DNR APU PPP APA GEOI NBL OXY SGY REXI CNQ SYNM
I think this is enough. One thing to be cautious about is earnings season so check to make sure you don’t get blind sided. Most of these stocks mentioned here can be explosive or violent in volatility. So should you play any or if they even set-up honor your stop plans.Comment
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Here are some of the groups that look like they are topping. Not many look good on the long side right now.
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Take a look at BIOTEC
Here is BBH
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