Seeking Alpha

GSRTrades'  Instablog

GSRTrades
Send Message
Our research draws its market bias from a combo of Fundamental and Technical evidence. Economic and earning trends are matched against our analysis of price and volume charts, giving us an indication of how friendly or unfriendly the market is behaving. The goal is to identify top growth stocks... More
My company:
GSRTrades
  • Sluggish Bear 0 comments
    Jun 28, 2010 5:20 PM | about stocks: SMH, XRT, XLF
    Not much to take from Monday's sluggish market.



    We're sticking with our Sell Bias as the major indexes continue to tread under key moving averages.

    While we were cautious bulls a week ago, the recent breakdown in leadership suggests new lows for the market may be at hand.

    This is a traditionally slow time of year for the markets. Without clear conviction from buyers, it appears down is the path of least resistance.

    Given the tendency of Bear markets to reverse suddenly, we need to be alert to anything that might suggest a more sustainable rally than what we've already seen this month.

    The semiconductors ETF (NYSEARCA:SMH), which is fighting to stay above its 200-day moving average, could be just the vehicle to lead broad market action higher.

    Though without the support of retail (NYSEARCA:XRT) and financial (NYSEARCA:XLF), which are showing weakness below the key average, a rally opportunity is hard to envision.

    The week's main event may come Friday when employment data is due.

    Stay tuned,
    Dan
    thegrowthstockreport.com

    Disclosure: Short: TEX, CUZ, CHS, SPN
    Themes: Growth Stocks Stocks: SMH, XRT, XLF
Back To GSRTrades' 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

StockTalks

  • Base breakout on growth stock $ULTA in effect
    Jun 18, 2010
  • Major buy volume on Growth Stock $ULTA, up 10%, nearing base breakout
    Jun 11, 2010
  • Growth Stock base breakout on $DECK
    Jun 11, 2010
More »

Latest Comments


Most Commented
  1. Cautious Buyers (6 Comments)
  2. Runaway Train (4 Comments)
  3. A Follow Through Day (2 Comments)
  4. Bearish Callings (2 Comments)
  5. Pullback Mode (1 Comment)
Posts by Themes
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.