ARRGGGHH...........

Well obviously the couple of scenarios I was hoping for just isn't going to happen. The averages had a big day moving close to 6% across the board. But volume was very light as the move was completely news driven based on the details of the continued bank bailout and an uptick in February home sale numbers.

Very frustrating for me because I have underperformed this month but it is important to keep in mind that the people that have had a good month are the same people that were have been demolished over the last year and a half chasing strength. I am still outperforming the indexes by close to 40% over just the last three months and I am not going to get performance anxiety when there is no good R/R entries. Eventually these people will get burned again and we will continue to maintain discipline and profit. I have spoken with many other traders today who consistently out perform the indexes as I do and they are feeling the same frustration I am.

Just about everything from the commodity list gaped higher on declining volume and I am still looking for dips with the idea of averaging in at first lines of support and getting aggressive at their main support. Of course I will continue to keep the overall market as my primary guide and individual stock news.

The breakout list worked great but volume again was not very strong so I flipped the ones I took.

I am still building short lists but with the market remaining so news driven and with so much cash still on the side lines is very hard to dive in.

I am a little frustrated right now, so I am going to take the night away from the scans and just start fresh tomorrow and play what is in front of me other than the commodity lists already built.

I am long a few select stocks from buys on Friday such as MDR which I bought a small position at 13.20 on Friday which I will add on light volume dips. FEED is setting up for the 1234 tomm. I mentioned yesterday and I have already started a position there. I continue to have a pretty big position in LZR which I have added on dips over the past week and am already up a pretty good amount. This is truly one of the few growth stocks in this economy and remains in an uptrend. It doesn't get much attention when the overall market is strong but should it get through $9 it should see $10 easily and through 10 to 10.15 has no resistance. If you don't have a position here yet. I would look to buy on dips around $8 and be prepared on a break through $9. Keep you position size in check however, as the stock is extremely thin.

JAX