Heed the Warning Signs

Although the indices were strong and breadth was good, it was one of the oddest days of action in a while. What was so odd was that the high-momentum names, Netflix (NFLX) in particular, jerked around wildly. A few minutes of panic selling set in at midday, but most of the big-cap momentum favorites found support and finished at intraday lows.

I've been commenting for a while about how it has been a good market for stock-picking as the action has been less correlated. That shifted today and it looked like the machines were back in charge. The high-momentum names moved mostly in unison and tripped both chasers and sellers with tight stops....1235 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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