Wall Street Bear Citing

Jordan Kimmel |

Jordan Kimmel EquitiesIs the stock market rolling over for a bigger correction, or is all this bearishness a buying opportunity? That is the million dollar question. What do the internals say?

This is the 8th 5% pullback since the 3/09 bottom already! A series of lower higher lows and high for a month…. New highs disappeared, new lows expanded. These are not good signs.

The A/D line hit a recovery high just two weeks ago. The yield curve is still steep. The Wall of Worry is as high as ever. These are good signs for sure.

The answer is: this is not an easy time to trade or invest. It's not clear what this action represents, in my opinion. Clearly we are in a tug of war between the Bull and the bears. The bear citing in NJ yesterday on my street was clear, the one on Wall St was less clear. As I put the final touches on the Magnet newsletter, I still see plenty of good stocks that fit in my model portfolio.

My guess is that the market won’t give a lot- to either the Bulls or the Bears. The best stocks to own are easiest to find in markets like this. Now is not a good time to be overly aggressive, but I still do not want to ignore alerts as they go off.

NVMI, CROX, OVTI- all will make the newsletter cut here…

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer

Companies

Symbol Name Price Change % Volume
IVR.P.A Invesco Mortgage Capital Inc. Pfd Ser A 24.95 0.38 1.53 5,222

Comments

Emerging Growth

CMX Gold & Silver Corp.

CMX Gold & Silver Corp is an exploration stage company. The Company is engaged in the acquisition, exploration and development of silver and copper/gold properties in the USA.

Private Markets

Pinterest

Pinterest is a visual discovery and planning tool. Users ("Pinners") use the site and apps to get ideas for their future, such as recipes, places to travel, and products to…

Spotify

Spotify is a online music service offering providing digital content from a range of record labels and artists. Users can browse through the interface by artist, album, genre, playlist, record…