Silence of the sheep...

I have been patiently waiting for some kind of direction other than the snap the whip... and so far the expected Market bounce bounce has occurred.... however, there is a distinct lack of follow through...
I will put some links out to charts of the TSX & CDNX at the end of this post and the damage done to the trend should be evident... It was serious enough  to be an event that should not be taken lightly... the CDNX is definitely more affected as the TSX shows more strength...
So... What is the problem if the market goes down and I /you have a strong fundamental stock that we believe will buck the broad trend because of the strong fundamentals?

The answer is that from a view of attempting to take a position.... the odds of picking the right stock that is going to buck the trend is way down... make a few trades in a down trending market and you will come to experience the reason many chartists fail the test.  In a down trending market buy signals move to about a 90 % failure rate in my experience.... so if the market is about to make a reverse in trend.... it remains to be..... the best course of action is no course of action except in extreme cases of love and temptation... take what comes.
Any stocks momentum is comprised of all the usual components of price of any stock you can think of... If a stock has been on a tear... good fundamentals or not.... the direction of the price is a function sentiment greed and fear.  Fundamentals have little to do with it when fear is leading the charge.

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GLTA Lostoutwest
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