After being stopped in on a number of long trades last week, and a large move pushing positions to profit, today is likely to be either a pause or continuation of the move up. In either case, relative safety lies in managing existing positions. We will continue to look this morning for stocks which are still in a position to provide a trade trigger meeting our requirements that price prove itself by pushing higher from a down bar on the daily – but its clear that after Friday, many of those which were down then may not be viable stocks for long side trades in the first place.
Consequently, immediately after a big up day we never expect to see much in the way of selection on the long side. We’ll look just the same, and no doubt we will also find some weak stocks worth stalking on the short side. Please join us in TrendVue Trader Talk or click on the link to review the ‘almost-live’ transcript.
05.02.14 10:07 #