I have a very busy week ahead of me and I might not be able to post everyday. I will try to post something if I see a significant change taking place in the market. I think that the "smart" money is getting out of this latest rally and the "dumb" money is holding it up. I'm sticking to my recent analysis until I see a reason to be an aggressive buyer again. There are still some trading opportunities, but it would be wise to risk less on your current trades and start to build cash. This will allow you to be prepared for a sudden sell off and to have cash available to take advantage of the next rally. One opportunity today might be SFD. This is a pork producing company that is selling off for no rational reason today. The "swine flu" scare is not tied to pork consumption. The stock has dropped to its 50 day moving average and it is (so far) holding as support. The move down today looks like the completion of a bullish ABC pattern. The buyers came in right after it gapped down this morning and the volume has been high. If it finishes up for the day, it would be a very bullish sign.
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