Despite the lack of true beauties with safe patterns that I can go long or short, there is one new short tonight that offers us a potential for a big reward with little risk. That short is in good shape and only has one thing against it: the overall market. It is still moving up. However, like I keep saying one big heavy volume reversal and you are going to see a lot more ADY charts from 7/13 in the future. Maybe that is why the biggest short scans are starting to grow in size. Market up today but my short scans have more shorts than my new longs have an increase in new stocks. So something bearish must be going on underneath this market. However, as long as the general market is moving up, do not fight the trend with all your money. Shorts should remain small here, unless you are a cocky SOB. Then I guess you can do whatever you want. THIS SHORT HAS FAILED WHICH IS REALLY NO SURPRISE BUT REMEMBER THIS PATTERN. IN A BEAR MARKET THESE PATTERNS DO VERY WELL. YOU CAN SEE MY BIG WINNERS FROM 2008 MAINLY SEE THIS PATTERN BEFORE BIG BREAKDOWNS.
new short positions: ABFS
ABFS
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