Large Caps Bend Lower

Large Caps Bend Lower

Stocks were generally lower on the day, Monday, lead by large cap names. Trading levels were light, and there were pockets of strength in growth areas. I found quite a few biotech names that looked strong, even though the IBB was negative on the day. The index, along with small cap indexes does not look as broken as the large cap indexes. I took a full position in XON as volume increases on it’s turn higher. It’s tough to get invested here while indexes take on water, but the stock is looking strong. Other’s that have me interested are VDSI, ZIOP, and WUBA.

My allocation accounts remain in SPY, which is again at that point that looks to be the verge of correction. This is around where it usually turns higher, but this time may be different. Other indexes are not confirming a correction at this point (IWM, IBB, etc).

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Large Caps Bend Lower

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