There are no new short positions for Wednesday’s stock market session as the market had an overall bullish session today. The fact that volume remains below average and that stocks could not close near the highs with the Nasdaq reversing at the 50 day moving average should keep the bears confident their side is the right side. Right now, it is too mixed out there with too many crosscurrents to be a cocky bull or a cocky bear here, if you ask me. However, with the DJIA leading and the Nasdaq, Russell 2000, and IBD 85-85 lagging so badly it is probably safe to say that lower prices are ahead. However, if you have been in this game for as long as I have been you know that the market can turn on a freaking dime and leave you a perma bear while stocks run higher on volume. Since we have no volume, I will continue to lean to the bear side but be ready for the bull side to come back into vogue. I have 11 longs and 7 shorts right now with 85% cash which tells me that nothing is clear at all. The only thing that is clear are the trends. Long-term we are going nowhere, intermediate term we are down, sub-intermediate term we are going nowhere, short-term from the July lows we are still technically up. Cash is clearly king, to me. Going heavy here is just foolish, no matter which side you play, unless you have EXTREMELY tight stops. I have one possible early short for subscribers: EPT.
new short positions: none
none
