Despite the market running into some resistance on almost all of the major indexes there is still no sign of any clear reversal and due to that there are still no shorts to take. If anything the long side continues to look more attractive in the short term. However, without volume, realistically we are looking at a back-and-forth listless market where random pockets of strength will be all that we get. Once volume decides to enter the market on either a breakdown or a breakout then we will know the direction it is probably safe to go. However, until we get that volume, cash is still king. It is a grind out there but we have to remember that dull markets eventually turn into exciting and dynamic markets. When that happens we will be on it. Until then, keep that powder dry.
new short positions: none
none
