Trading Setups

Futures flat after being up decently earlier. Germany and a few other countries said go screw to having European bonds…and knowing they would be on the hook when others defaulted…so Europe fell back.

Trading probably light today but nothing to do anyhow. Without a follow through do, I am doing nothing more than to wait for oversold condition to be worked off in order to do some shorting. That only occurs on bounces or if market just sits and breaks down off this wedge/bearish flag pattern.

No matter what, we still keep our watch list of best stocks…just in case the market does decide to turn up. You have that list but warning…if market gets another leg down, they will usually come after almost everything that is strong.

Have a safe weekend.

Gary Kaltbaum owns Kaltbaum Capital Management, LLC (“KCM”), an investment adviser registered with the U.S. Securities and Exchange Commission. The opinions expressed herein are those of Mr. Kaltbaum and may not reflect those of KCM. The information offered in this publication is general information that does not take into account the individual circumstances, financial situation or individual needs of an investor. The information herein has been obtained from sources believed to be reliable, but we cannot assure its accuracy or completeness. Neither the information nor any opinion expressed constitutes a solicitation for the purchase or sale of any security. Any reference to past performance is not to be implied or construed as a guarantee of future results.