While I have four new long positions with another four “early/spec/ext” longs, I still have one new short position to take based on what the market tells me to do. I do not invest/trade based off my own opinions. I use 130 years of data/history to tell me when I should buy or short something. If it doesn’t work, I cut my losses fast. When it works, I let it run. So if this new short does not work, I will get rid of it as fast as I have gotten rid of the other new shorts that have not worked out in this market. Still just because the other stocks have not worked does not mean I should just be “fearful” of the next one not working. I will continue to take my signals as I get them and will continue to keep each trade small until the market can get going in one direction or the other. If we move higher on volume, I will cover my shorts. If we continue to drift, I will monitor my current shorts and act accordingly. If we rollover on higher volume, I will increase the size of my new shorts. Until we get a movement, with four new longs tonight, I will continue to be careful on the short side. Full analysis of the short and chart tonight before anyone wakes up in the morning.
new short position: TX
TX is running into resistance right at the 50 and 200 day moving averages, closing near the lows of the day, on strong volume with BOP going heavily negative. Cut your final loss with a close above the 50/200 day moving averages, if the stock does not move lower immediately.
