Things Are Looking Ugly out There

Lately, it seems every chart I show has some warts. Some more than others, but basically, they all stink.

Still, you'd think there would be something working. And there is. There always is. My favorite way of finding stuff that's working? Just look through all of the stocks making 52-week highs. Forget about looking for stuff that's down 50%, because as folks have found out, that stuff can quickly be down 80%!

No, if you must go long, at least do it with charts that are holding up. It's a funny thing, but stocks that have already made one 52-week high have the best chance of making another 52-week high. I know, real rocket science, right? Hey, it doesn't have to be hard. ...