There are no new short positions tonight, obviously after the very strong price gains today. Instead of talking about the shorts now, I think it is smarter to FINALLY NOW focus on the longs (YIPEEEEEEEE)!!! We had three full cover signals tonight on our current short holdings and all three are leaving us with good gains. It is nice to get full cover signals when you have 20%, 30%, and 80% gains locked in. Even though I am now going to focus on longs as nice (still almost zero “perfect” charts out there) charts are now dominating gross charts. Hopefully, in time, a few more “hot or perfect” charts can setup and make us some money before we have to take profits and get out. But, just in case, this rally fails, I am also going to continue to watch for new shorts that setup. We did have a new short yesterday and it basically was flat. That means we are still short this stock, despite today’s 3.8% move on the Nasdaq. To go along with that new short, we still have 30 other short holdings. Those stocks are telling me to continue to hold as they could still rollover and fall further. However, half of those charts are now between the 50 and 200 day moving average and we have some large gains in a lot of those. Therefore, all it takes is one big up day, on very strong volume, with BOP going green for us to be out of these shorts. It is possible, if Friday, is just like today, that we may have only 15 shorts by this weekend. So all we need to see is more strength in the market on strong volume and we will be out of a lot of these soon. But, if today happens to be the last day higher, we are still in strong position to profit on the market rolling over. We can always re-short the stocks we want to be short. Some stocks that are weak while this market gains some strength include ESRX, CKH, MKC, BAX, CRR, and RAH. RAH would have been a short tonight, had it closed at or very near the LOD. Since it did not, you can be sure that I will not be taking it for a short. Be careful out there and keep an eye on this market as things could get exciting in the short term. Aloha.
new short positions: none
none
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