On the Bright Side – If you are "Feeling Lucky"

Jeff DeGraaf, the uber technical analyst at Lehman is someone I read everyday and pay extra close attention to in times of extreme euphoria and panic.

He covers such a broad range of topics and delivers the info in a clear, unemotional way.

This morning I picked out a few of his indicators that seemed most relevant to the selloff and they are one of the reasons I have been looking at a trade to the long side and hesitant of shorting.

Ask questions if you have any. This is NOT a recommendation to go LONG, but a piece of the puzzle that I look at on days like today.

These indicators only have to be wrong once to MAKE YOU BROKE. The idea is to get as many indicators aligned in your favor as possible, so that when you are wrong (you will be), at least you were wrong for the right reasons (LOL).

I am a trend follower and if this is a bottom or near a bottom, there will lot’s of opportunities in the months ahead to enter stocks with lower risk. Because I run a fund and try to make money off extremes from time to time, I have decided to post more often lately and share other ideas.

What you can see from the past oversold conditions like these, that strong upside moves can follow with a lot of time and entry points to make money along the way.