01/17/12 Dave Landry's Newsletter: This Indicator Suggests That We Should Avoid Getting Aggressive
Sent Tuesday, January 17, 2012
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Got Random Thoughts:
The indices sold off but did manage to close off of their worst
levels. Internally, the market looked okay--for the most part, just
some minor corrective action.
The market remains overbought, right at short-term resistance, and
just below quite a bit of overhead supply.
I'm seeing a few setups on both sides of the market (long and
short).
I hate to be cliché but I think we're in a "stock pickers" market.
Nothing has changed just yet. Avoid getting too aggressive while
the longer-term big arrow continues to point sideways.
Futures are strong but coming off their best levels pre-market.
Best of luck with your trading today!
Dave
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Disclaimer:
All predictions are about the future. A lot of $#*! can happen
between now and then.
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