Today’s bullish trading continues the steady uptrending market. The lack of evidence of exuberance is illustrated with numerous stocks trading in an upward direction but with one or two days to the upside, followed by a day of selling, followed by more upside. This indicates there is profit-taking occurring along the way. Because the market is not providing a powerful directional force, this makes each individual stock chart analysis based upon the candlestick signals or patterns. Obviously have the portfolio biased to the upside but there are still a few good short positions performing profitably. It is good to have a slight mixture of short positions in the portfolio as a safety factor.
March 19th Daily Market Comments
Today’s bullish trading continues the steady uptrending market. The lack of evidence of exuberance is illustrated with numerous stocks trading in an upward direction but with one or two days to the upside, followed by a day of selling, followed by more upside. This indicates there is profit-taking occurring along the way. Because the market is not providing a powerful directional force, this makes each individual stock chart analysis based upon the candlestick signals or patterns. Obviously have the portfolio biased to the upside but there are still a few good short positions performing profitably. It is good to have a slight mixture of short positions in the portfolio as a safety factor.