This weekend’s Dope Sheets (dope sheets are handicapping scratch-pads used at the horse- track used for identifying winners) were depressing. Here’s for ending on an up note:

CREE- led the way up. It was the first to roll over. It’s has turned up. Beautiful chart.

Speaking of precious metals- GLD has got to come down. It’s the key. If we get some kind of bottoming in leadership AND gold (GLD) breaks (and I it is certainly not- it’s going higher as it’s a great candidate for an upside breakout of a flag), we cannot continue to be bearish, but too many things have to happen (like UNP to not be breaking down…) for us to be bullish. Continue to sell the rips- but keep in mind that some stocks like Cree (CREE) and Deere (DE) are reacting positively to good news and DE’s earnings are this week. So any  stock exhibiting near-term catalysts like DE or CREE this week is going to give you a better chance to sell those at higher prices.