kaltbaum email

Conviction and trust are the two most important intangibles when trading/investing. Both come from definable trends in the market. When there isn’t a definable trend or when a potential turn looks suspect, both intangibles are low. It is only in the further movement of a good trend do these intangibles feel better.

 

Right now, we have had a called follow through day…on a half day, light trading, holiday. And then there is today. I liked today. Forget the DOW being down. More importantly, markets came back from lows and a few names broke out on volume. So we have a follow through day…maybe suspect…but add in a few breakouts and it is time to probe…just in case it turns into something. Add in end of month…add in seasonal December…add in the Fed still printing $40 billion every month. Don’t worry about tax increases. Don’t worry about the debt. Don’t worry about the crappy earnings and sales growth…watch the market.

 

So…EBAY buyable in here as it breaks out on 80% better volume.

 

Other breakouts were CVLT,DDD and SSYS but all have whippy charts…and dont have a great entry. Any pullbacks would be looked at.