(C) 2009 Wm Schmidt, Ph.D.
If the DJI breaks 7000, it could drop quickly
another 1000 points. So, we should most be
looking at short sales in this environment.
If there is an impressive turn around, look for
the ideas I post Monday afternoon.
Shorting strong stocks show weakening Accumulation
like MYGN makes sense if 7000 is violated.
The oil bubble stocks that are making new lows,
have lots of red DIstrrbuition and steeply down-trending
Closing Power are apt to stay weak.
DVN 43.67 DWSN 12.21 EOG 50.04 WTI 8.05 BAS 6.31
PFE 12,31 shows heavy red Distribution. ANother helpful
aspect here is that the is a steady price downtrend that can be
watched for when a rally might develop. Its breakdown at 14
will pose resistance on any rally, too.
SXI 10.83. AXR 18.60 Breakdown below support. Heavy red distribution.
WYNN 20.95 -1.33 High-Roller Gambling stocks is very vulnerable.
Charts
