Sentiment

We are in earnings season and sentiment seems to be shifting. Of all the ideas that I combined into one list yesterday, every single short is working today while not much else is, unless you caught my comments on PEIX and used your own stop and not mine. I had the accumulation right, the stop wrong by about $.16 cents. PEIX recovered well over 30% today.

All the shorts listed are still within good positioning. they are not likely to be as explosive, but they may very well be good entries to a fruitful trend, in which case, I hope you have TeleChart or Stockfinder-Buttons for them are at the top of the page and I can share my trend channel with you which will catch the majority of the trend instead of guessing how low is low enough. this is a proven indicator, not an arbitrary opinion.

Despite the pullback in al of the longs from last night (don't forget it's a Friday and this happened last Friday as well)-all the positions still look good, no technical damage has been done with the exception of the reversal play DGLY-unless it makes a recovery before the day's end.

So for now, hang in there, take a look at the shorts. As I've been saying for a week, lower your risk, honor your stops (which don't have to be the same as mine-those are suggestions only), and be patient. Now is not the time to swing for the fences, that time will come, but not yet. capital preservation is what's important right now and patience-patience is the one edge you have over Wall Street, you don't have to be invested, cash is a position too.