I Leave For My Vacation Tonight And What Happens…The Markets Crash. LOL.

July 26, 2007

It is very very important that you read your IBD Big Picture tonight and go over the B section of the General Market. You must read what IBD writes. I am taking this as a correction and am advising EVERYONE to not go long stocks, do not chase shorts, but if something is setting up near both the 50 and 200 dma to go ahead and short. We might have bottomed today, with the horrible breadth, up to down volume, and the huge volume we saw. Only the upcoming week of trading will let us know what is going on. But for now, like I have been recently advising, its time to get off margin, sell laggards, stop buying stocks, and to monitor your stocks that are going up for clues that they might be over. Do not sell everything. If your stock acts like VDSI did today, then obviously there is no reason to sell. If your stock acted like BAM then you need to get out.

I will try to have more before I leave, but if I do not, don’t worry, I will have internet access where I am going. Aloha for now.

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Posted by Joshua Hayes | Filed Under Free Commentary 

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