There are no new short positions for Friday as the market is under a technical FTD on the Nasdaq. While the market is under a FTD it is not wise to fight the trend and go short stocks (unless that follow-through day is very weak like our recent ones have been). As you have seen during the pullback from the April highs, shorts are not tearing it up for us. With that being the case, many having to be cut for small losses (almost 3 out of 4), it is even more foolish to try to short while the market is under a FTD uptrend. With all these leading stocks hitting new highs right now, if the market rallies, a ton of money is going to be made compared to the few winning shorts that will make chicken scratch compared to these leading stocks. When the market does eventually top, there will be even more high quality stocks to short when that time is right. It appears that the time is not right, at the current moment. The trend is indeed your friend and while that trend is up the correct side is not the short side. I do have one possible short for those that just can’t keep that powder dry: TSN.
new short positions: none
none
