kaltbaum early notes

Crappy open but market trying to come back as I write this.

 

 

The SOX continues to be under pressure but going to really watch closely as it is in the area where it was defended way back last November and December as well as early June of this year. If the SOX puts up a stand, will be a big help to the market. Already trying to reverse the SOX early. If the worst area stops going down…

 

 

I have been asked 100x if FB is a cup and handle. Answer…no. Wait for earnings. And you know what I think of valuations.

 

 

Take HD off watch here as it looks more toppy than wanting to break out. If that changes, will let you know.

CTRX and ULTA pulling back…ULTA recovering. A break below 50 day is sellable…and as I said, keep positions small.

 

 

C reported…was up nicely…and then into the red and now rebounding. Notice it having trouble at the 50 day.

 

I generally expect the market to continue to be a pain in the rear…and will go slow if that changes.