Although the Dow is trading relatively flat on the day so far, the NASDAQ and the S&P 500 are trading higher providing more evidence the T-line is going to be acting as a support level for this uptrend. The biotech’s of already been identified as a sector that is acting very bullish, producing many good trades in that area. The patterns are working well as illustrated in the TSLA chart. As long as the market indexes remain above the T-line, the portfolio should be oriented toward the long side. However, are short recommendations continue to be profitable i.e. NLTX, CMD,FOLD. When the market indexes are showing slow movement one way or the other, having both long and short positions in the portfolio is the most prudent strategy.
December 11th Daily Market Comments
Although the Dow is trading relatively flat on the day so far, the NASDAQ and the S&P 500 are trading higher providing more evidence the T-line is going to be acting as a support level for this uptrend. The biotech’s of already been identified as a sector that is acting very bullish, producing many good trades in that area. The patterns are working well as illustrated in the TSLA chart. As long as the market indexes remain above the T-line, the portfolio should be oriented toward the long side. However, are short recommendations continue to be profitable i.e. NLTX, CMD,FOLD. When the market indexes are showing slow movement one way or the other, having both long and short positions in the portfolio is the most prudent strategy.