There are no new short positions for Wednesday’s stock market session as the market had a very strong intraday reversal today with volume picking up over yesterday’s levels. Still, the volume was well below average and that does not instill confidence that the current intermediate term downtrend that started in April is done. The only way we will get out of this listless trading we have had since June and really since the start of the year is to get volume on either the upside or downside. Volume seems to only come in when we have a Russell rebalance or an options expiration. Throw those two events out and volume continues to be well below average. It appears the entire Wall Street has gone on vacation and until they return it will be a market where a few longs and shorts here-and-there will work with most stocks going overall no where. Cash is still king and while there are some past leaders beginning to weaken we will have to wait for better setups and volume to come in on the downside before they can be considered “safe” short positions. Stay patient, trade small, and remember a trendless market will always give way to a trending market.
new short positions: none
none
