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Watch list for week of 6-12-06 at 2006-07-09 19:42:47
This correction has become more severe than I anticipated. It seems that a lot of bulls capitulated on Thursday, along with some margin call liquidation. If Friday had been an up day then I would have a little more confidence in long positions. I think this bull might be close to its last legs, but I cannot be certain yet so I am still net long. My watch list this week looks far better than it has for months. It has been a while since such high relative strength stocks have consolidated long enough to meet the criteria my market homework software looks for.
I'll probably be re-allocating some of my portfolio from the worse looking positions into better looking consolidations on the list below. I've had GIGM since I posted about it in March and added to it again this past Thursday morning. I'll add even more shares if it breaks out from its current consolidation.
