For Immediate Release
Chicago, IL – May 20, 2010 – Zacks highlights commentary from People and Picks Trader “TickerBandit”.
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As We Approach the Buying Op of the Year 🙂
There are times when one must participate in order to outperform the market. And I believe one of those times is swift approaching. I don’t know if the market will be higher or lower when the confirmation comes but in any event when we have confirmation of reversal of the secondary trend (this correction), I do believe a rally, which requires participation, will follow.
My own strategy involves trying to weed out the leaders of the next rally. Which I am doing. Later today, one should be able to see two tickers in my P&P portfolio which I think will be among the leaders. One should expect in the rally to follow that there could be fewer leaders as divergence continues to build in this bull market’s breadth. Even so, the initial stages of the rally will be broadly participated. Right now while the market is correcting, is the time to isolate the strongest tickers. If one is buying individual stocks, he must concentrate on those tickers with strength. At least that is what I will be doing while using my own brand of relative value to narrow the universe of qualified tickers.
The other option is to buy an index like SPDR S&P 500 ETF (SPY) or SPDR Dow Jones Industrial Average ETF (DIA). This is safer but with the lower risk one is also reducing opportunity.
As for how deep this market can go … First let me say that I am quite surprised with current levels of the VIX and it alarms me. Something seems to be brewing, and I think if this suspicion plays out, the correction will end in a type of capitulation move. I’m not waiting for any particular type of capitulation though. If the indications I favor indicate upside reversal without a capitulation occuring, then I will be putting the rest of my equity capital to work. Presently I am at 15% of risk capital and will continue to add as I find early leaders but anticipate I will be no more than 40% allocated when the reversal occurs.
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