Big Wave Trading video lesson for Tuesday’s stock market session.
There are no new long positions, once again, today, despite the ninth straight higher close by the Nasdaq. This market feels extended on the very short-term and further consolidation would be beneficial to stocks. However, my intermediate term oscillators show that there is plenty of room on the upside left before becoming overbought. This makes sense based on the fact that I continue to receive no new long positions on the short-term while not receiving any sell signals at the same time in my longer term holdings. The only exceptions continue to be the speculative trades. My stock picker continues to be wrong on these. I take VUZI and pass on CRMD. One day it will all line up on these and the huge returns will materialize. Until then, I cut losses quickly when I am wrong.
Speculative Sells:
100%: VUZI HPJ – Fail, Cutting losses.
