Some of these stocks look to me like they may be putting in bottoms, and others are nicely consolidating in such a way that leads me to believe that higher prices are ahead. The quantity of stocks is noticably smaller this weekend, and it may have something to do with fewer stocks hitting new highs. There is a chart several people have posted to their trading blogs over the past week or two and I'll post a link to it too because it is worth looking at:
$NASI is a breadth indicator, and is currently near the top of a contracting range. I don't know if it will keep going higher or not, but if it starts to turn down, it will be because the market is getting hit with broad selling. I'll also be closely watching GOOG, AAPL, and SNDK to help guage market strength. I may ease back on the margin if these leading stocks start to really fall apart. I have a big position in NTRI, which is a very strong stock that has also seen a lot of significant selling lately, but fortunately is still holding at the "50 day moving average" support.
