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Byline: JONAH KERI
The stock market's abrupt five-day sell-off Sept. 24-30 whacked dozens of leading stocks, raising fears of a sizeable correction. The carnage never came though, as the Nasdaq bounced off its 50-day moving average, and stocks resumed their strong ascent.
But a change did occur. After running up two-, threefold or more, several of the leading stocks over the last six months finally buckled. Some fell to their 50-day moving averages, then found support. Others kept on falling.
The result was a rotation by institutional investors from extended highfliers to a new batch of stocks just starting to break out of bases.
Stick to a sound set of trading rules, and you should be able to navigate the changing landscape.