I've spent most of the morning so far walking through all my energy plays and picking up some stocks in that group. I alluded to that earlier and although I'm concerned about the general market pulling back, I'm thinking where we might rotate to next for the December time frame. This group is gaining strength and the charts are setting up for another move. At least that's the way I see them and I'm staking out a position as a result.
The metals stocks not only were trading heavy this morning they in fact have turned into a full fledge sell down at this point. I took most remaining profits out of that group and will now wait for the next re-entry point.
Outside of those two areas, I've done pretty much nothing. A little adding and a little selling. Although I don't see the bulls letting a pullback go too far this week, next week holds greater promise for some ugly type selling that makes those who have been accumulating of late, reconsider their motives.
The metals stocks not only were trading heavy this morning they in fact have turned into a full fledge sell down at this point. I took most remaining profits out of that group and will now wait for the next re-entry point.
Outside of those two areas, I've done pretty much nothing. A little adding and a little selling. Although I don't see the bulls letting a pullback go too far this week, next week holds greater promise for some ugly type selling that makes those who have been accumulating of late, reconsider their motives.
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