Evening folks. Great week in the markets last week with the spx up nearly 4%. There was strength across the board in the indices. The action in the market was pretty good last week but we are not out of the woods by any means. We have hit the top of the range in the markets and are at a key level where we have seen big fades. When the market is in a range to break the top of the range usually takes something significant. Breakouts in indices are not a common occurance and dont happen easily. For now its better to be light and nimble and not take on too much risk. Every couple weeks we get hit with a piece of news that starts a selloff and we are getting near that time again. will it happen for sure ….nope..u never know.
huge week for us in the chat room last week big winners in LEDS, MY, IVAN, MOTR, RAM, CX it was nonstop hit parade. This is the time of year these little guys really go once the tax loss selling subsides even the smallest amount of buy pressure can cause 20-40% pops. If you look at some of these ipo stocks they all at one time were 20-30-40 dollars and now are under ten. RENN, DANG, YOKU, TAOM, P, FFN, SQNS. nonstop selling in them the past 2 months as pretty much any investor that bought them near the ipo got nailed. These are the type of stocks that can run if you see the tax loss selling setup emerge.
Ive got a comprehensive list of potential tax loss selling plays along with the charts, fundies and the way to find them and play them.
[screencast url=”http://screencast.com/t/Hn15aFemrv” width=”” height=””]
[screencast url=”http://screencast.com/t/ezWbwTB4vIv” width=”” height=””]
[screencast url=”http://screencast.com/t/9jDQR6lWl” width=”” height=””]