Monday, June 7, 2010

Weakness in leaders continues...

The next significant level to observe for these leading stocks will be their 50 day MA's. If they slice through on heavy volume then we could be in for a major correction. For the moment I remain in cash. It will take at least a few weeks of strong price action before we will see leading stocks forming healthy bases. So until then I am sticking to cash and observing the markets.

Good luck and good trading!

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