May 14th Daily Market Comments

Watch the Dow, it is currently trading right on the 50 day moving average. The 10 minute candlestick chart reveals the Dow has shown some buying. This doesn’t necessarily mean the selling has stopped, it merely reveals there is buying occurring at the 50 day moving average. The anticipated profit-taking is occurring in the other indexes. These market conditions warrant having both long and short positions in the portfolio. Long positions should be maintaining above the T-line. The short positions are working well.