Pluses and Minuses

The positives are:
  • We are seeing heavy put buying and the market is holding in relatively well.
  • We are oversold in the short term (but not by my favorite measure) 
  • We are sitting right above Friday's lows, which should act as support.
The negatives are
  • The market has until the end of the week before it is maximum oversold by my favorite measure(10 Day moving average of NYSE Advancers - Decliners)
  • There were no major cash M&A deals announced over the weekend
  • The insider selling window opens up at many companies this week.
  • Most people believe this is just a correction.

1 comment:

Anonymous said...

I thought a lot of people believe is a correction in the works??

(yeah after we are already down 5%)

Anyways more pluses...

AAPL, the Jesus Christ of stocks

Banana/Bazooka Ben, the market sugar mac daddy daddy mac pimp gigolo

Fed minutes or some type of announcement I forget what it is.

More good earnings from industrial companies

But I'm still not liking the action today, very anticlimatic.

Bulls lost their balls.