Long Entries Still Tough
Volume is running light due to the Columbus Day holiday, but the action that we have is extremely lopsided to the upside. Breadth was running better than 12-to-1 positive early and is still close to 10-to-1 positive. All major sectors are in the green, all the big-cap momentum names are up and the only red is the inverse ETFs and TLT.
All last week I heard traders complain about the lack of favorable long setups and they are squawking even more this morning. This market is not making long entries easy, but that has been a very common theme ever since the low in March 2009. If you want in you almost always have to do some chasing because the underlying dip buyers just never let things fall very much once they start to trend upward....122 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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