John Ward's  Instablog

John Ward
Send Message
Equities trader. I currently live in California. Email: Twitter: JWard_73
  • June 30, 2010 0 comments
    Jun 30, 2010 11:01 PM | about stocks: GOOG, GMCR, PCLN, AFL, V, F, AMZN, GS, BUCY, BIDU, AAPL, FSLR, CTRP, FFIV, VMW, CRM, MELI

    The market was unable to muster a bounce of even the slightest significance today, and more than a few of the “leaders” pummeled on Tuesday followed through to the downside, such as CTRP, MELI, VMW and FFIV.  While a snapback of some sort seems logical, nothing says that this has to happen.  Unless we get a move of such unmitigated power that it leaves no doubt the institutions are back to accumulating stocks, the focus in the near-term should be on the short side.  Either that or one should be sitting in cash, waiting for a healthier market environment and hopefully enjoying the summer weather.      


    That being said, however, the evidence points to a further reduction of prices in the not too distant future; since it’s impossible to know just how far a market may fall or how it will go about doing so, it would be wise to stay alert and unencumbered by a bias or opinion on the matter.  An embargo on all things market-related might not be all that bad an idea.  The price/volume action of the market is and always will be one’s best counsel.  Go beyond that and you run the risk of polluting your analysis with others’ opinions, skewing your judgment and subverting your own operations without even knowing it.


    Potential targets for short sales:  GOOG, GMCR, PCLN, AFL, V, F, AMZN, GS, BUCY, BIDU, AAPL, FSLR.


    Disclosure: Long: SQQQ, SPXU, TZA; short: GMCR, AFL, V
Back To John Ward's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers


  • If $AMZN clears 3,048,300 shares traded today and you have a bona-fide "pocket pivot" buy point.
    Aug 15, 2012
  • Economies the world over are slowing, Europe is a mess, the US is in the doldrums, but baby boomers ain't going to stop growing old: $ESRX
    Aug 9, 2012
  • Of the 20 leading stocks on my screen, only 5 are red right now. #TheStockMarketCloseWillBeInteresing
    Aug 2, 2012
More »

Latest Comments

Most Commented
  1. September, 27, 2010 ( Comments)
  2. June 4, 2010 ( Comments)
  3. June 22, 2010 ( Comments)
  4. June 23, 2010 ( Comments)
  5. October 19, 2010 ( Comments)
Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.