I will try to get back here and right an intelligenct report on today’s stock market action. But it can basically can be summed up as “we are biding our time.” We are still simply waiting to see which direction volume is going to come in. If it is for the bulls, we are going to have a great time as we have a lot of very pretty charts now setting up. However, all it takes is a couple of bad days, ie, FEED, to destroy a hot stock chart.

On Thursday, the chart of FEED was one of my favorites. By Friday night it became one of my most scary longs as I had that quick revelation that this “could” happen to every single leading stock we can find. Therefore, it is still all about cash. And speaking of cash, yours truly just spent a lot more last night.