SELLING RALLY MODE

SELLING RALLY

The earning returns for the first week have been mixed, and you can’t ask a better report from INTC (better earnings, higher guidance, and greater capex). However, the mood of the market is clearly "SELLING RALLY". This simply does not bode well to the Q4 reporting season. Material sector is also under pressure, although for a different reason. The only sector appears to work presently is the energy, which continues moving up. I have selectively put stops on a number of material and base metal stocks. While I remain confident on these stocks, I do not want losses from these positions to exceed 6%-7% for here. I also put a bid for CEY at 1.25 for valuation purposes (3XCF, EV/BOE/D nder 30K). (and it was filled).