UPDATE

Of the stocks I posted yesterday...NOV, LAD, SU, APL, ICO, EOG, and KSU all moved below their 10 day MA today. I would wait for them to get back above their 10 day MA before getting into bullish trades. If you are already in the trade, make sure you have defined and planned your stop. I still feel that these stocks will continue their uptrends, but there is no way to guarantee any move. Always have a plan to cut losses if the trade doesn't work out. The fact that money went into financial stocks today is good news for the expected continuation of the uptrend. I've said all along that the market can't make any significant move higher without the financials participating. One day doesn't constitute a trend, but it is a start. We'll see if there is any follow through. On the bearish side...there was a report out today that the percentage of bulls in the market is approaching the 2007 high...just before the bear market started. This could mean that the market is nearing the end of the bull market, but it doesn't tell us exactly when a downturn would begin. I'm going to keep trading the uptrend until I see the bearish signals start to appear again...like a move back below the 10 day MA...or the 50 day MA. Many of the energy stocks sold off a bit today. They needed to. They were up pretty big over the last few weeks. They next few days will tell us if it was just profit taking or a sector rotation.