There are no new short positions to take on Thursday’s stock market session because we still do not have a market setting a series of lower highs and lower lows on clear distribution. Despite the down session today, I only had a total of five stocks in my short scans and none of them offer the reward/risk that is necessary for me to start going short. So, overall, today was a lame pullback. Was volume higher? Yes. Is it a technical distribution day? Yes. Did it feel like the big boys were dumping the market and the leaders? No. Are the leaders holding up well after today? Yes. Check your leaders GOOG, BIDU, PCLN, AAPL, etc… . This was a normal pullback and if the market is going to continue higher it is helping setup our next round of bases for our leading stocks to break out of. Don’t call market tops. Only trading neophytes and fools do that.
new short positions: none
none
