FOSL and GMCR remain weak even in the face of a follow-through day in the general market indexes yesterday. While this has led to a buy signal being issued by the MDM in the short-term, we would still watch AAPL for a failure at the $400 level as a potentially shortable event that may have implications for the success of yesterday's follow-through.
GMCR can still be held short using the 82.40 undercut low of two days ago as a quick trailing stop, but the fact that the stock cannot muster much of a rally in the face of a big move in the general market yesterday does not speak well for the stock
FOSL tried to rally to the 94 level earlier right at the bell but is pulling in and may remain weak.
There is still a great deal of "mushiness" in this market, and so if one is interested in playing individual stocks then approaching the market as a market of stocks instead of a stock market might make more sense. Stocks which remain weak can still continue to move lower even if the market tries to rally, and so the short side remains an open question here so be alert!
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