Market continues its weak condition, even though it is getting oversold and it might bounce any day now. I remain on the sideline, with "wait and watch" attitude. Remember, at this present time cash is the king. Reserving capital is our first goal. So if possible, you should stay away from the market or take a vacation; if you have to trade, then focus on one or two stocks with tight stop. Now it is too late to get short, but it is too early to go long.
Let's get to market leading averages and some individual stocks if market turns higher from here.
Retail sector has been strong lately, besides BEBE, URBN, SHLD are on my radar too.
One pick still performs well that is DAVE.
Good luck and see you guys tomorrow at UCLATRADER.BLOGSPOT.COM
D I S C L A I M E R
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