June 12th Daily Market Comments

Is this a market selloff? Not across-the-board! The big selling appears to be in the big-name stocks, AMZN, NFLX, AAPL. This is causing the NASDAQ. But the Dow and S&P 500 and the transportation index is not selling with any great resiliency. Additionally, numerous stocks are still trading positive Today. This amplifies the analysis that the overall market direction is less important in these market conditions that individual stocks/sectors. Observe the obvious, take profits in positions that have produced sell signals and are trading below the T-line. Having some short positions in the portfolio, as recommended over the past few weeks, as more than offset any pullback of profits.