The major indexes are trading lower so far Today but the transportation index is trading positive. This implies the lack of any overall consensus of the selling. Expect profit-taking in individual stocks/sectors, rotation is in a fact. The candlestick charts still pinpoint which stocks have very strong bullish chart patterns i.e. DLPH kicker signal/J-hook confirmation. Take profits in charts that are demonstrating weakness/sell signals. There are good shorts that can be added to the portfolio as seen in the DPZ chart last week. These market conditions warrant having both long and short positions in place.
February 21st Daily Market Comments
The major indexes are trading lower so far Today but the transportation index is trading positive. This implies the lack of any overall consensus of the selling. Expect profit-taking in individual stocks/sectors, rotation is in a fact. The candlestick charts still pinpoint which stocks have very strong bullish chart patterns i.e. DLPH kicker signal/J-hook confirmation. Take profits in charts that are demonstrating weakness/sell signals. There are good shorts that can be added to the portfolio as seen in the DPZ chart last week. These market conditions warrant having both long and short positions in place.