Exposing Ideas to the Envelope of Serendipity

Contact moo at: bluechipbulldog@gmail.com

Tuesday, March 9, 2010

Charts and Clapton

I am off to a slow start this morning, after spending last night with Eric Clapton and Roger Daltrey who were performing live nearby (and are still playing rather loudly in my head). The boys haven't lost their magic, wowing a sold-out crowd with a powerful mix of old and new that was a perfect showcase for such truly legendary and enduring talent.

Turning, however reluctantly, my attention to the market for a moment, we saw a classic and constructive bullish consolidation day yesterday, much as expected. After the brisk run-up we've experienced  we may now need to pull back or tread sideways a little longer before significant additional upside progress is seen. These are generally ideal times to start compiling a shopping list to scale into positions on weakness and I'll have some ideas for you to consider soon. Market breadth has been impressively positive and until proven otherwise, buying the dips should be the savviest strategy to put to work. Let's see the McClellan's, first the bigger picture $NYSI followed by the short-term $NYMO. And last but not least is a look at the $BKX, which is potentially setting up for a breakout.

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