I am just cautious. However, it was great to see that market rally on Thursday and Friday and the resulting change in "Outlook" at IBD.
But now Greece is once again the distraction with. “The pro-bailout New Democracy party came in first Sunday in Greece's national election and could gather enough support to form a pro-bailout coalition to keep the country in the Eurozone.”As I understand this means this party gets the first chance at forming a new government and if unsuccessful the party that came in second gets their chance which would be: “The radical left Syriza party, which has vowed to repeal Greece's international bailout deal”
So no clear picture there in my mind and the uncertainty continues…we will see how our market views this on Monday morning
So what did I see in my weekend review?
The 10-yr Treasury yield is now at 1.59, virtually unchanged
IBD (Investor Business Daily) now has: Confirmed Up Trend
Copernicus Systems: Is still short in the market, but again not unanimous. I do see one of the key indicators bouncing off of a lower limit…might this be a good sign?
Moneys flows are actually up in 3/3 portfolios and 3/3 portfolios are up in price.
IBD 50 Top Five:
LQDT, QCOR, SXCI, ALXN, MLNX
LQDT, GNC, SXCI, ALXN, MLNX
Copernicus Top Stocks are: ARBA, NTES, WMT, T, EBAY
ARBA, NTES, WMT, EBAY, BMC
Currently my "Stocks for a Trade" now consists of:
None at this time
IBD 50 Basket Holdings Are:
None at this time
ETF’s for a trade are:
(All gains or losses shown are the total since purchase)
GLD (3) buys for -4.23%, up a little this week but still negative
What will I do?
I still have not closed out these short positions and they actually improved a little. Perhaps it is now time. I will see what happens on Monday.
If the market does clearly turn this week I am looking at: LSDT, QCOR and NTEX for initial positions
I hope you have a great week.