We are at a point in the market where there isn’t a clear high probability entry and exit in many stocks. This phase is where more patience and discipline on your part is required. Build smaller positions than normal and have more cash on the sidelines. Don’t try to make a lot of money in this part of the market right now until we get more obvious high probability ideas with many stocks. We often see more speculation occur after a higher high is made such as we saw in NLST as a bullshort, NABI as another developing one, and ZOOM as an example of moving from $8 to $ 11.25, then back to $8.20 at the close.

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Even though there is strong enthusiasm now after the nice run up this past week, start looking at the idea of reducing your long positions especially if you are overweighted or even leveraged on the long side in relation to your total account size with those stocks.

At the moment, stocks look like they have a ways to go before any pullback but consider reducing your longs as stocks approach the anticipated peak in the indices

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Sorry for not posting here on the blog more often, I’ll try to be more consistent.

We are having an awesome 1 day stock trading seminar in Los Angeles in 2 weeks, Here is more information if you want to check it out.

http://www.tradestocksamerica.com/seminar-offerj.php

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