Dear Fellow Trader,

A modest down day yesterday is what we needed if we want to see some short term reversal. Some stocks are establishing reversal points, so today we could have a few stocks going up, but again we need to wait for the confirmation to enter. But this is not the best market condition to trade, you need to recognize this.

You can see on this chart of the SPX, that it is slowing down it’s slide as it gets closer to the support area. And with a small range day like yesterday, we can expect a move up today, but we need to get that reversal (Higher High than Yesterday’s High..)

Made some money on MDOR yesterday, as i sold to take a quick 40% profit on about 1/2 of my position ( I am quick to take some profits because of the state of the market…)

SPNG is slowly rolling over….And it’s doing as discussed….with this pattern it isn’t going up.



If you were not already out of BPUR, yesterday was the final day. This stock broke it’s trendline on strong volume.

RIMM seem like it is stabilizing, it could Pop for a few here, but before we need to see it make a new high over $70.70.

CELG is very strong and the way it acts says a lot about the buying behind this stock.

GNW is in a nice Channel and when the market come back this one could run, the way it consolidates right now is very positive for this stock.

Have a Great Trading Day !