Pre-Market 1/9/2013

Futures are higher this AM.  The VIX is making new lows, the number of stocks above their 40 day moving average is reaching highs.

This is not an all clear time to buy stocks in general.  Some stocks are certainly performing.  If you have them, make sure you don’t give back gains if the market corrects.

Just my opinion, but I need to see a test of a key moving average for the market in general, followed by a move higher on strong volume, before I put more cash to work.

Of course, the old adage that the market “climbs a wall of worry,” or ” doing what feels good is generally the wrong decision in the markets,” could be in full effect here, so we need to keep our ability to pivot and change our bias with ease.

Stay Tuned!

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