Not only were there very few stocks in the short scan tonight due to the low market volume but the fact the market was up today made the list even smaller. There were not even 12 stocks in the scans. So there were not many stocks to go through and all of them had something that kept them from being a good short. The best one that I passed on was CAJ. CAJ was passed due to the strong close that gave it the appearance of support (I look for closes near the LOD signaling that there is extreme weakness) and even though BOP did go negative it was still yellow which just doesn’t show me enough weakness. Another thing that keeps me from wanting to short this “what could have been a great short signal” is that the Relative Strength line is not making a new low compared to the move in January. If the RS line was lower than January that would show that it is extremely weak compared to the overall market thus making it a great short candidate. So, as you should be able to see, as long as you are not a complete newbie, there are just too many little things there that keeps me from going short a stock in a market that is going nowhere. CASH REMAINS KING!
new short positions: none
none
“Profits can be made safely ONLY when the opportunity is available and NOT just because they happen to be desired or needed …Willingness and ability to hold funds UNINVESTED while WAITING for real opportunities is a key to success in the battle for invesment survival.â€â€“Gerald Loeb
