Despite the gains and the 5 new longs, we still have two new shorts which is a bit shocking. However, I don’t ask “why?” I just take the stocks short because that is what the chart is telling me to do. The only thing I can say is that my shorts are not going to be nearly as big as my longs and I am still not loading up 200% on margin with my longs because we have not put in a solid enough floor to have me commit my full capital on margin (WHICH I NEED TO LIVE) in this market. Soon, yes, but not right now. However, the market does like to rally on fear and last night the put/call hit .91 which was the highest reading in a while. Be careful out there. That swine flu, like I said in the longs, is very nasty. Aloha!
new short positions: SRCL OTEX
SRCL is breaking down below the 50 day moving average, closing near the LOD, after failing to get back above the 200 day moving average and putting in a series of lower highs, on strong volume. Cut your final loss with a close above the 50 day moving average, if the stock does not move lower immediately.
OTEX is breaking down through the 50 day moving average and through the support of the symmetrical triangle it was in, on very strong volume. Cut your final loss with a close above the 50 day moving average, if the stock does not move lower immediately.
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