Friday, December 10, 2010

Key observation...

We are most definitely in a bullish environment. Text book bear flags like MOTR, and CCME for instance broke down this morning with the early weakness but then came right back. If you have been trying to swing trade on the short side you've most definitely been getting your head handing to you!

On the other hand very few of the bullish set ups have failed. In fact the worst that seems to be happening are fake outs like RVBD for example. Which gapped out of a bull flag and them came in only to bounce right back to new 52 week highs! This is definitely the environment to be aggressively long and holding onto long positions that you like even through short term weakness. All the dips are being bought.

Its best to be very quick with shorts or ignore them all together and just BUY, BUY, BUY WITH A PLAN TO TAKE PROFIT OFCOURSE!

Good luck and good trading!

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