Our website and SlopeCharts have a list of the top ten gainers and losers each trading day. I was glancing at the top gainers, and three of them included AMC Entertainment…….
And Tronox Holdings……..
As you can see, in spite of the huge gains today (around 35% or so), every single one of these charts absolutely stinks. That’s the paradox of dealing with a bear market: the biggest gainers are often the most horrible equities. Their liftoff is based simply on the fact they have been utterly ravaged and don’t have much place to go but up…………until they weaken yet again.
Even so, this bear has been partly de-clawed and, as I’ve mentioned earlier, have backed off to a more cautious position. As I’m typing this, there are still two hours left this trading week, but I strongly suspect I’m going to stay put at a modest 113% commitment. I hope the rest of you are doing all right.