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What we have seen in the market over the last few weeks is likely what we are going to continue to see for the next few months. A lot of back and forth churn, some of it violent. One can’t chase in this environment and one cannot overstay a position, as it’s unlikely a trend is going to really be sustained in either direction. And somewhere in those next few months, it’s likely to have a pretty violent shakeout to the downside. Overall tradeable if you trade within that context. If you don’t, it will chop you up. 

For Thursday I like PayPal (PYPL) which I purchased on Wednesday close ($79.20). The stock recently had a good earning beat, good forward guidance, but one sector was a little short of expectations and the stock sold off. IMO that was weak hands selling to strong hands, and I expect a bounce. I will NOT be overstaying. It’s not a home run hitters market. 

Thanks,

Joe