Just like with the longs, there are no new shorts that I will be taking tonight. Why? Because nothing is failing at a key 50/200 day moving average and making a fresh break below the other key moving average. Everything is still extended to take a safe short position. We still need what we call “backing and filling” to get the prices of the stocks to these key moving averages so that we can take on our key/most opportunistic shorting positions. The early shorts I gave Platinum subscribers are doing very well especially the bank stocks like AXA, GS, CS, HBC, DB, etc. If the market would have already had a set of lower highs and lower lows I would even be short these stocks. However, only on Thursday did our lower highs/lower lows get set officially thrusting me into the shorts camp. My one short is still working, though we did cover some after Friday and I look forward to possibly going short one of these stocks in the near future: NXY ICE PCU HBC OMC ADBE CS AMAG EME SQM CME CXW PENN SPN TV AXA SPR.
new short positions: none
none
