Are Financials Starting To Roll Over?

The Nasdaq bucked the weakness again today, with the NDX closing in positive territory. Small and mid-cap indexes were also positive. But financials have a way of pulling everything else down, just like they did in March and again in June-July. So this bears watching-- closely.
Energy stocks were the big winner on the day, with many stocks bouncing +5-10%. Unfortunately, they are still well, well below their highs, and still below more resistance levels. I will be looking to use further strength to lighten up my exposure to energy/commodities/ag.
There is no, new clear-cut leadership that I can identify right now. As such, my game plan is to remain a bit defensive, raise some cash on up days, and implement some hedges in the event of a pullback into the September/October timeframe.
long SKF
0 Comments:
Post a Comment
<< Home