The Big Wave Trading Portfolio remains under BUY signal across the board with basically 0% pressure weighing on it. Every index is trending above their respective 50 day moving averages and they are all doing so on volume well above the average daily volumes we track. This, along with the breakouts in stocks across many various sectors, makes trading this tape–for now–simple in regards as to what to do. Buying stocks is what there is to do, when a tape is this strong.
That being said, we are fully invested at Big Wave Trading and basically our only play right now is to sell our few laggards and funnel that money into either our leaders or our new buy signals in individual stocks. Considering, most of our stocks are moving up, we are not raising much cash. However, a good sign for future potential gains, is that every time we have a sell or partial sell we have a new stock that can be considered a new buy. This is indeed a very strong tape.
One day it will not be. We will be ready then. We will sell our weak holdings, take our profits, and put on some hedges. Right now, thinking of doing any of the following would be beyond foolish. I will repeat one more time: this is the strongest tape I have seen since 2003 and thanks to the addition of world ETFs I can honestly say it appears even MORE bullish than 2003. The charts aren’t loaded with as much green as I would like to see but the price and volume patterns are pretty damn close to perfect. I don’t fight that kind of action.
Have a great rest of your beautiful weekend. Aloha from a very warm and sunny Maui where summer time never–and I mean never–ends. Once again, aloha.
Top Current Holdings – Percent Gain – Date of Signal
LIST WILL BE UPDATED ON SUNDAY.
