RTS is selling EXPE and buying SNDK in its place tomorrow at the open.
I sold AMZN on Friday, but decided not to buy BP yet.
Major indices are up 15% - 25% for the month making the market very overbought. I do expect a correction at this point. We're also entering into the most seasonally bullish period of the year and hence corrections are going to be steep, but short in length (time). Expect for Thursday, volume has been low for up days so far, but low volume doesn't concern me because new highs have been expanding nicely on both NYSE and NASDAQ while new lows have remained in check. Also, Big Money was busy last week churning his long positions which is always a telltale sign of a pending significant up move.
I expect the current rally to continue into early next year and plan to add more long positions as indices correct (intraday 1.5% to 2.5%).
Disclaimer: The views expressed are provided for information purposes only and should not be construed in any way as investment advice or recommendation. Furthermore, the opinions expressed may change without notice.
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