There are no new short positions for Wednesday’s stock market session due to the fact the market simply is not ready to stop moving higher as most indexes are just a few points away from new 52-week highs and the DJIA is hitting new 52-week highs. Besides that, too many stocks are simply putting in beyond impressive moves, breakouts, or bounces off key moving averages to dare fight this trend. The best traders simply do not fight momentum and clearly momentum is on the side of the bulls right now. The only three stocks that were in my short scans that have the technical look of what I want to see before I go short were CNX BEC and EHTH and only CNX offers the proper reward-to-risk ratio. So this is still a market for the “bulls” and as long as the trend is moving higher I will ride along.
new short positions: none
none
