Friday, April 16, 2010
Since my earlier post today on KKD, the market slide has accelerated. I think it is safe to say that the expected shakeout is underway. The pullback may last several days. I am looking for the traditional McClellan Oscillator to fall below -200, -300 would be better, to signal an end to the pullback. Until then, new longs are off the table. This should be a quick affair, so short positions should be taken only a hit and run basis.
Posted by R. Craig Pritchard at 12:47 PM