HGSI Doc Top Down Review – May 11, 2014
Sorry for the late post and Happy Mother’s Day to our wives and mothers and mothers in law.
I am in NYC and just returned from dinner with Alex and Kerry and several other traders who like me are participating in the SPIKETRADERS reunion and traders camp. Alex and Kerry are great hosts and it has been a great experience learning from them and the other participants.
This week was inverse to several of the last. Turn around Tuesday went from recovery days the last several weeks to a big bearish down day. We took the rest of the week trying to recover. Despite a good day on Friday, our favorite, high beta, high growth stocks, once again took it on the chin and fell much harder than the DOW or SP.
What will this week bring? Will the large caps pull the small ones out of the abyss and into new highs? Will the high beta stock volatility spill over to the rest of the market and be the final nail in the coffin of this long lasting and very tired Bull.
Time will tell.
Enough guessing. Join me on my Top Down Review as we try and find some trading opportunities whether to the long or short side. For me, I will wait and see what the market does, This is truly an indecisive time as we wait and see how the divergence between large and small caps resolves.
Have a great week