Matt, I think we'll drift lower for the most part next week. . .with the third burst coming most likely on Monday the 22nd, like I predicted several weeks ago in the Millenium post. However, I covered all short positions for the weekend. . . I don't mind holding stocks over the weekend, but I don't like holding shorts. . . too easy for a stock to get big news or a takeover . . .and there is no limit to loss on short-selling.
NUFO was todays best short-sell daytrade by far for me. . . since the ProfitOften alert went out. . . it dumped about 6 points or so. Most gains were on the short-side today. Not much happening on the long side today, except for our little microcaps. . . All in all it was a good day here. . . making this my 5th up day in a row. . .to the tune of. . .I won't say publicly how many percentage points, but it is significant! Big difference from weeks past, where we moved only sideways or down?
As for sidelined money, there is no telling. Next week is when the majority of the earnings come out for earnings season. It is doubtful that will be wrapped in a positive spin. So I am digging in for a 4DML. . .and am looking for a pre-market spike. . .then 4 days of lows. . . perhaps getting back under 2400 briefly. . but doubtful much lower than that. . . then, IMO, we burst back over 2750 the following week, just as we discussed back in December.
The biggest problem I see for next week. . .is that some stocks will be selling off sharply, while others make sharp gains. . . so holding in either direction could be either good or bad.. . .definitely a stock pickers market to the max.
Best wishes all. . . .I've got a very busy weekend ahead.
Hope everyone had phunn!
Rande Is |
