JIMMY

After giving up the mornings 80 points on the DJIA, the major market indexes are trying to stabilize at the flat line (except the NAZ). No guarantee that it will happen but the short and intermediate term trends sure are lower (especially the NAZ and the techs).

The 200 day SMA on the SPX looms again just a few points lower and the more times the support line is tested the greater the chance it will break through it, again.

Jimmy, on his site, saying some of the NAZ stocks have gone too far and now maybe cheap. Those he mentions include AAPL QCOM MRVL NTAP MOT and GLW. Owning tech right here seems very difficult as warnings come often and any rally in the group is sold. I think the better strategy is wait for a pullup to resistance and then start shorting. Sorry Jimmy. My bet is that Jimmy's other strategy of buying energy stocks is a better theme for now. There you go, long energy on weakness and short tech on strength.