Don't Buy It

Don't gamble; take all your savings and buy some good stock and hold it till it goes up, then sell it. If it don't go up, don't buy it. Will Rogers

I've always appreciated the retrospective humor of the last sentence, but also wondered if it should be taken literally. That is, in the IBD sense of "Buy High, Sell Higher" or "Stocks hitting new highs tend to hit more new highs".

That would certainly be the case lately with BEXP BIDU CSTR FMCN NFLX NTAP & VSH. Even LCC.

So can a case be made for bottom fishing? Not so much in this market. In other years, bottom reversals have tended to be late bloomers catching up with their peers, or companies whose business dynamics had just changed for the better and they were beginning to be noticed. But not now. So look for me to go with the "strong getting stronger".

Trades: ANR hit its 8% trailing stop loss orders at the inverse peak of the not so Republican Rally for gains between +0.7% and +3.4%. Hey, anything green is better than a loss.

Reversal alerts: (unfiltered) t2: ARIA NYNY OCNF UTSI. hlr: CRME CWT FMER MI NTWK SBIB UTSI. Here you either have to gamble on a bank or pharma, or park your money in a utility with single digit sales growth. Pass.