[Mid-Day Update]
This market is finally technically poised for a significant bounce. While I’ve made some small long accumulations here and there, however, I’m sitting on my hands until we have intraday confirmation supported by BREADTH. And we just aren’t getting it at the mid-day, although the narrower range and SPY $104.50 range hold are “comforting” thus far.
Bottom line, if one can’t day trade, I can see making incremental buys at this level, otherwise this is hardly a healthy market — with internals and news flow as bad as they are, let some other sucker be first in line — there should be plenty of opportunity to ride coat tails when and if it comes….
[PM Update 2:00pm est]
Do you hear the bugles blaring?
Never Investment Advice
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