Scalper1 News
Major averages finished last week near breakeven on lower, pre-holiday volume. Futures are down more than half a percent at the time of this writing as Greece rejected debt demands from the EU in a landslide vote. While the action of recent days looks quite bearish, total NASDAQ and NYSE short interest finished at all time-highs while AAII bulls are at the lowest levels since 2009. Markets generally do not crash nor top during such periods. Could this time be different? Given the long-term pessimism regarding the QE-manipulated environment, the problems in Greece, a falling Chinese market despite their interest rate reductions, and one of the flattest markets that cant seem to get up and running, it is not surprising short interest is so high and AAII bulls are so low. Investors are exhausted. But all things taken together, we remain in a QE-fueled market which has kept floors shallow, a soft global economy which spurs on QE, and individual stocks which have continued to prove profitable to our members provided one takes profits in context with the overall chart. Meanwhile, market timing has been at its most challenging in a market that has been one of the flattest in almost a quarter century, but such periods always come to an end. With the potential collapse in Greece, many stocks took hard hits over the last few days. Our guided recipe for our members has been to take profits when you have them in context with the chart, and always keep stops relatively tight since stocks can quickly unravel when the market corrects even 1-2% as we have observed. So despite the tough market environment, handsome gains in stocks with rough profits in parentheses based on our selling guidance either via our webinars or via real-time email report updates have been achieved: SKX (+49.9%), AMBA (+57.8%), CI (+25%), SUPN (+36.5%), KYTH (+41.0%), as well as in others such as VRX, AYI, REGN, etc in just a few to several weeks. This makes all the difference to oneâs profits as the time value is substantial, ie, the time it takes to earn a particular profit. Scalper1 News
Scalper1 News