In yesterday's discussion about the weakness in the dry bulk shippers I
mentioned the new high that the Dow Transportation Index put in yesterday
and then pulled back.
In the following video Oscar discusses what may have been going on from a
different perspective, selling double tops. He is a commodity futures trader
who mostly focuses on the NASDAQ and S&P futures contracts. He is most
definitely not a CANSLIM guy.
http://livewithoscar.com/modules.php?name=Content, click on Daily Video and
watch it. I watch Oscar in the morning just to see where he thinks the
market is going, his calls aren't bad but you have to remember he is a day
trader.
If enough people think like Oscar (and a lot do) the selling we saw
yesterday makes sense, particularly with transportation stocks.
Mike Scott
Tarzana, CA
