Tuesday, April 30, 2013

Thoughts on the markets, open positions and watch list for tomorrow!

The evidence is getting more and more compelling by the day that we are in the early stages of a new up trend. With the exception of the Russell 2000, all of the indexes corrected by chopping sideways as opposed to the traditional pull back and now look poised to head higher with both the NASDAQ and semi-conductors ($SMH) closing at new multi-year highs. I was short biased as recently as last week but with quality stocks like $FLO and $VCLK setting up in quality bases and looking to break to multi-year highs; I was forced to change my stance. So currently I have 3 long positions and no shorts in my portfolio as shown below:

So I'm roughly 123% long at the moment and looking to get on full margin by adding any of the following that triggers tomorrow:

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