Friday, September 08, 2006

This is no rally!

I know IBD says we are in a "confirmed rally" but the leadership sucks, breakouts keep failing and I'm feeling very suspicious about the low volume gains. I really like Novatel (NGPS) but I just don't feel confident on the long side of things right now.

I'm short US Steel and I'm looking for some more short opportunities. There are tons of charts that are setting up nicely for that. I just wish the market would pick a direction and go with it.

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