There are no new short positions tonight as the uptrend off the July lows continues. I don’t make it a habit to fight the trend and that is easy to do when you let charts be your guide. If you are doing that you can see that not only is the short side not that attractive right now but when they do setup right they still are not working correctly (like they would in a real bear market/downtrend). Today’s gains left my scans pretty dry but the lower volume probably had a lot more to do with that then the actual gains. No matter what the volume is currently, fighting the trend is a deadly game. There are too many CANSLIM stocks moving higher on volume along with few strong short patterns out there and that is a clear sign to sit on the sidelines right now with shorts.
new short positions: none
none
