brettstockblog's Blog : BTDStocks.com Thursday, February 17, 2011 End-Of-Day Update

Stocks opened weak but recovered to finish with small gains and at new highs once again.  Market breadth was good but investor participation wasn't impressive.  As a result, we are raising the support/resistance levels on the DJIA (DIA), S&P 500 (SPY), and Nasdaq Composite (QQQQ) (see below).  One thing to note is the action of corporate insiders.  Currently, they are selling shares in amounts not seen in a very long time.  They usually are a good indicator of what is to come for the stock market since they actually run the business.  We continue to feel the risks outweigh the rewards for putting new money to work.  Making money in the equity market is too easy right now.  Most investors see no risks for stocks right now.  Conventional wisdom tells us something different.  The prudent approach indicates to protect profits and keep losses small based on the stock market direction. Continuing to tighten stops is a smart move right now.  If you need to own stocks, please see our open watch list below.  To read full article, please visit: www.btdstocks.com/No positions in securities mentioned.