I covered a lot of my shorts today that did not work the past two days and continue to hold the shorts that are working. Any short that has not shown me a gain has automatically been completely sold. The ones that have shown a profit from day one will be held for further downside possibility.
The market is due for a bounce but since the volume is light and there is not a lot of charts to pick from I can not see how this could last that long. However, I could be completely wrong. It wouldnt be the first time.
We will see what comes from this lazy bounce by the Nasdaq in the next couple of days. Until then continue to keep cash high and have very tight cut losses on the positions you do take.
New Swing Longs: SMSC FAST LRCX FELE
Longs Outperforming Market: SYS PGR IVIL
New Swing Shorts: QGEN
Shorts Outperforming Market: JRCC CNTF DXCM MT BOL ALDN BUCY DUK VOLVY CNSL
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