Teflon coated market

Looks like there is an underlying bid in the market. Action like today's is good action during corrections. Morning selling is followed by stabilisation and with late buying. Below the surface number of stocks continue to attract buy interest. So my current view remains, this is so far a garden variety pullback. It might be time to start dipping your toe back on long side.

I am ready to look at both possibilities. If the market rallies after this correction, it will be one very powerful rally. If it breaks down bonds and dollar is where the major fun will be. Anticipation and nimbleness will be the key to capturing the moves. So keeping buy list ready is never a bad idea. By the end of day I will post my list of 100 stocks with momentum that I am monitoring. This will be weekly feature now onwards. I will also put a file in the stockbee group.

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