The media is all over the fact that the Dow has not been down six days in a row since some time in 2008. While I'm not a big fan of stats like that thrown around without context, it is a indication of how steadily down the market has been. The real problem is not that it has been down for 6 days, but rather that it has been steady, without a bounce, and shown no signs of panic. As a result, I don't want to sell weakness unless the pattern is very compelling, and I don't trust strength. We need a base or capitulation, until then I'll be very cautious with longs - breakouts and reversals.
~Long Focus~
ILMN
SWN
WPI
~Other Long Charts of Interest~
A
WPI
ILMN
SWN
VHC
CELG
SUN
PTEN
NTGR
AVB
TIF
NFLX
AMZN
CTXS
FTNT
IBM
PLCM
~Short Focus~
I don't have a real favorite here, but I'd prefer to sell OR Reversals than break downs until later in morning or afternoon.
~Other Short Charts of Interest~
OIH
XLE
DECK
WYNN
RIG
WYN
DVN
MGA
