Waiting

[fuzzduzz]

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Would of liked to see more follow through on Thursday. Futures are so-so this morning at 8:20 am.I will wait and see if we get a light volume pullback to support levels. If support holds and we reverse up I'll be all in. Must wait for confirmation first cuz we possible could break below support and if we do you don't want to be in stocks.

 

[tsptalk]

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I'm still kind of in the camp that the short term play is to sell overbought conditions and buy the oversold. Breakouts aregood signs for the intermediate and longer term but this oscillating market probably still needs to be handled with kids gloves. That's one reason I am saying that my Monday allocation may be a one day play (based on seasonality data). I still think the thrust of the next move upmay not come until we get oversold again. That could be after the mid-July weakness.