Thursday, July 9, 2009

Market summary

Markets were slightly up but mostly flat. It was expected that markets may remain neutral and consolidate a little bit here before trying to make a move again. Sector wise retailers
But clearly last three four days of sell off has broken lot of stocks and their uptrend and now its easier to find short setups. Sector wise retailers/reits were lower while home builders materials led higher. Retailers looked really week today from the open and may have more room to downside tomorrow.
Clearly lot of stocks have broken down now and short setups have started to appear. I have tweeted a list I will be watching tomorrow both long and short setups. Will post more if I find some.
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