With the T 2108 hanging above 80 for weeks now and the market rally approaching 2 months old, I am only looking for swing trades now. Holding for 3 - 4 days maybe up to 2 weeks depending on the price action in the individual stock.
Back in late February and early March I was looking out for more position type trades. My idea usually is to load up (go long on full margin) on two to three stocks at most near the start of a new intermediate term up trend. Sit with them for most of the trend until I am stopped out or given a sell signal by the overall markets. Then as the trend matures shift to taking swing trades.
However, I was not able to successfully catch at least one big fish (position trade) after several attempts at doing so. Mainly because I made faulty selections but also because on one or two occassions I got impatient and sold early.
Now with the markets so extended position type trades do not have the risk/reward to attract me. But swing trades still offer sufficient risk/reward and are therefore still viable. So I am loading up on swing set ups looking for 2 - 3 days advance or a very small, quick loss and will repeat until the untrend comes to a clear end.
I have no idea when the markets up trend will end but I do know that it is currently offering lots of opportunities to make money. So I am taking full advantage until they disappear!