kaltbaum email

There has been a reason why I have been shy in issuing new stuff. There has been 5 distribution days on the NYSE and 3 on the NASDAQ into today. Today really put a stamp on the distribution.

 

No one knows what this will turn into but let me say, most are used to EVERYTHING WILL BE FINE. When the market is persistent on the good side, most don’t think any bad is coming.

 

NASDAQ and NDX break the 50 day. The RUSSELL,MID CAPS and SMALL CAPS are on the 50. TRANSPORTS are really lagging…and the SEMIS are terrible.

 

Any recent breakouts are failing…and most leaders are now pulling in hard.

 

So…time to kick back and let this run its course. I am seeing a plethora of short set-ups…actually I told you I was seeing a few last week…

 

So will probably probe a short or two in the days ahead but remember, shorting is a pain in the a–.

 

Lastly…earnings in droves starting next week so pay attention.