Roll Over

As we try and navigate this mess of a market in 2015, I think its important to look at some charts of former market leaders.  You would hope when one falls, another steps up to takes its place.  And that has been the case for some of 2015.  But I am seeing more and more charts succumb to this market correction, which I believe means lower prices lie ahead.

 

I could run through many more charts in breakdown mode.  These are not stocks being accumulated, this is distribution.

Walmart?  The epitome of the cost conscience poor and middle class.  What does this say about them?  Or perhaps Walmart is just a poorly run company.  But its not just the cheap retailers.

Coach, Whole Foods..... the list goes on and on.... and seemingly more are getting added to that list every day.

 

Perhaps this is a great buying opportunity for all these names.  And I don't doubt at some point in the future we may look at these current prices with they "Wow, why wasn't I buying there?" commentary.  But until we see the selling abate, there is no sense trying to catch the falling knife.  On the contrary, these weak names are likely to become even weaker when the rest of the market rolls over.

 

Known to most as Uranium Pinto Beans, Jason has more than 15 years under his belt of trading stocks, options and currencies. His expertise primarily lies in chart analysis, and he has a strong eye for undervalued stock. Because he’s got the ability to identify great risk/reward trades he usually enjoys taking the path less traveled and reaping the benefits from the adventure.

He is a co-founder of Option Millionaires, and he is best known for his weekly webinars with Scott, as well as his high level training webinars and charts found in the forums.

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