Monday, August 15, 2011

7 longs and 7 shorts for Tuesday!

Three consecutive up days in a row now after a steep decline and the T2106 (McClellan Oscillator shown below) is approaching 200 from which pull backs in the markets often occur.

This in addition to recent history (rip from 5/7/2010 - 5/13/2010) tells me we are likely going to pull back, maybe not below the low set last Tuesday but we are likely to witness a multi-day pull back within a day or two. So don't get carried away with long positions (as long you hold positions over night whether swing or position trader!) if you are currently holding any but do look to start loading up some short positions! Here are some ideas to get you started along with some long set ups that have'nt run yet in case we get another day or two of  upside.



Good luck and good trading!

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