There's more then enough longs and shorts, but the longs must be considered countertrend and speculative, thus keep the risk reasonable-I'd say no more then half a normal position.
The market is strange today, financials were weak, thus the S&P was weak, but biotechs and the NASDAQ bros were strong. It's becoming a very volatile market which is typical of tops and thus your greatest asset right now and always over Wall Street is patience. YOU DO NOT HAVE TO BE IN THE MARKET! So take the trades that look the best, look like solid, fat pitches right down the middle and leave the other stuff for someone else. Reduce your risk until we get a trend table that makes some sense.
As I've said, there's a time to load up the truck and a time to be patient. If you have questions, please feel free to email me-you are paying for the service-USE IT!
New Trades for tomorrow are up.
Monday, March 1, 2010
Intraday Update
Here are some long and short trades from last night's list that look good into the close so far for execution-for specifics refer to the spread sheet trades from last night.
MNTG, SLV, JPM, GS, UGP, KLAC, DTV, JOYG, TXN, SOHU, STD,
LOGI, DSTI, ADBE, SLH, ATW
MNTG, SLV, JPM, GS, UGP, KLAC, DTV, JOYG, TXN, SOHU, STD,
LOGI, DSTI, ADBE, SLH, ATW
