Commentary that started this week was summary of closing comments on those weeks editor's notes......
August 19 It seemed we may have turned the corner a couple weeks ago, granted, it was a sharp corner. And now maybe it is safe to enter the water once again, after having regulators coming down harder on the sharks.
Looking at the changing "themes" we've seen over the last few weeks the "corner" is described:
July 22: The Screened Stock Ratio still favors market selling.
July 29: The Screened Stock Ratio still favors market selling but looks more and more like a bottoming process. I suspect most will test the low and that point will be good to watch for a buy point.
August 5: The Screened Stock Ratio still favors market selling but still looks like a bottoming process. Watch for stocks to test support this week.
August 12: The Screened Stock Ratio may go positive this week if individual issues hold up well during any backing and filling, we may have seen the bottom for a while. This looks like another week of opportunity.
So here on August 19 we see a lot of stocks having double digit percentage gains off their lows, and now look a little extended and could use a little selling. But, with the SSRatio having turned positive last Thursday, I think we are situated to have an extended rally. Just pick your stocks and positions well.
Sam
