Random Market Thoughts and Observations

Currently, the DJIA is displaying more strength than the NASDAQ and the Russell 2000. The DJIA is filled with big name company's that generally do not provide top notch growth. The NASDAQ, the Russell 2000 and to a lesser extend, the S&P indices contain the more speculative, higher growth and technology-orientated stocks that I crave. Until I see stocks with high quality chart patterns, I am not going to be putting more cash to work. For the last few days, the financial media networks have been basically shoving their bullish bias down our throats. But one has to ask him or herself. Is the worst really over? Did we really put in a bottom? The answer to both of them is no. I still haven't found any must own stocks and the charts on the indices still look terrible. I will try to post some charts by the end of the week to show you what I mean. For now, good luck and trade lightly (if you must).