Momentum Stocks 1st February 2010
Hi,
Well all my momentum stocks are breaking down. At the very least this is looking like a pause in the bull market.Of course in 3 months+ time we could look back as that point as the start of the new bear market. But right now, no-one knows.
But this is a point I want to try and get over to people. You have to keep your eye on the price action and follow the cyles. The time to get in on this bull market was March - August 2009. That was the time to load up on stocks like TSL, BUCY, GOOG. Not now and frankly not since November 2009. Everything goes in cycles and if you start looking for long term profits already in a 9 month+ bull market it starts to get risky. You have to know where we are in the cyle and take the apropiate action.
All my previous momentum stocks have broken down and the only one to hold up for now is GMCR. I see nothing else right now and I will not expect to see anything until the market stop going down.
Regards
Mark Crisp
