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Movement and liquidity - those we really do need. If nothing moves it’s tough to put yourself in a position to generate some winners. If we have movement and liquidity and we are always protecting capital first and foremost - then we have something.
Let’s check the Industry Group Rankings at Investor’s Business Daily to see if any Groups have been moving.
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Working hard to keep and enhance an open mind and using what the market is telling us right now - I’ve highlighted a few Groups that are declining sharply as shown in the rankings below.
Thoughts and observations:
Pretty clear trend above in my view . . . . . . . Consumer and Retail under major pressure . . . .
Could potentially start fishing here as well for Single Stock Shorts as part of effort to always be prepared . . . . focus on RS 10-40, stocks finding and hitting resistance, and preferably something in a secular downtrend within the consumer/retail space . . . . I am NOT saying all of Retail has secular issues like Alcohol and Education but maybe there is something here we will have to dig more . . .
I am not enthusiastic about shorting anything in the ‘Melt Up’ at the moment as they all still have very high RS and are coiled with energy and very responsive to headline risk and hype . . . . need more time to see if they truly break down then try and come up for air . . . . if that happens I’ll be ready . . . .
