Anemia

The market managed a heck of a bounce today. But volume was anemic. This is further validation of our previously expressed belief that the recent lows are likely to be tested and probably broken before the market can attempt another leg higher.

The continued outperformance of leading stocks today, however, reinforces our belief that this pullback is buyable, although we believe it remains too early to put cash to work. We still look to next week when earnings reports begin in earnest as the likely catalyst to spur the market higher.

Until then bone up on stocks we have profiled in the past on our sister blog. A good number are well positioned as buy candidates should the market turn. In addition we continue to add stocks to our coverage universe and update some of those that have scored excellent gains and may be presenting fresh buying opportunities.