Market Monitor
Market continue to show momentum. However multi week rally is making it difficult to find good stocks to buy as most stocks showing on scan also have high 65 days or 33 days growth. Buying such breakout is risky.
Plus the overheated market is making many earnings play gap up too far and then reverse. Stock which normally would gap 1 dollar post good earnings is gapping up 3 dollar and then reversing.
Ultimately at some stage this market will have a few weeks correction, that is the way markets generally operate. That correction time is near. We are midway through the earnings season, so much of catalyst is not behind and mergers and acquisitions have a limited capacity to lead to broad based buying.
Note: If you are reading this in RSS feed format, in most readers the embedded spreadsheet in this post does not show up.
Plus the overheated market is making many earnings play gap up too far and then reverse. Stock which normally would gap 1 dollar post good earnings is gapping up 3 dollar and then reversing.
Ultimately at some stage this market will have a few weeks correction, that is the way markets generally operate. That correction time is near. We are midway through the earnings season, so much of catalyst is not behind and mergers and acquisitions have a limited capacity to lead to broad based buying.
Note: If you are reading this in RSS feed format, in most readers the embedded spreadsheet in this post does not show up.
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