Focus On Stocks Above 20dMA, 100% CASH
On Wednesday, stocks traded in positive territory till mid-afternoon. Bernanke's speech took the wind out of the sail as major indexes gave up gains to close fractionally lower on mixed volume. Fiscal cliff concerns dominate the climate & direction of the market. Focus on stocks close / meeting the criteria as they may be the 1st to gain ground if / when positive news develops.
This morning, futures are displaying a MIXED opening.
Climate is - Confirmed UPTREND
Focus on stocks meeting CRITERIA:
Selective Chartists Positions (with BUY price): NONE 100% CASH
(Top candidates poised for higher levels near-term).
In general, BUY within 5% of Pivot, stop-loss 7% below buy price.
American Intl (AIG)
3D Systems (DDD)