srsfinance's  Instablog

srsfinance
Send Message
Donald D Harder is an investment advisor with over 17 years professional market experience and is President and Chief Stock Market Analyst for Securities Research Services (www.srsfinance.com), an online stock trading newsletter service. Don served as a financial advisor for American Express... More
My company:
Securities Research Services
  • Constructive, But the Cheerleading Has Us Biting Our Nails 0 comments
    Oct 6, 2010 3:20 AM | about stocks: CLF, LFL, AAPL

    The uptrend reasserted itself as we predicted it might in yesterday's report.  This stopped out our AAPL short hedge for a small profit and gave a boost to our CLF and LFL long positions.

    We will be adding long today as the charts look good here and volume was strong marking a clear accumulation day.  We aren't, however, completely confident in this market as there are a couple of cracks showing.

    The Nasdaq failed to make a new high on yesterday's rebound and talking heads on CNBC quickly turned cheerleader, giving us the impression that contrarians may see an opportunity to hit back today.  Perhaps we are just nitpicking here, but we will be a lot more comfortable embracing this rally if we get both follow through and more market participants get antsy, as we admit we are here.



    Disclosure: long clf and lfl, covered appl short
    Stocks: CLF, LFL, AAPL
Back To srsfinance'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
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.