Here’s to my first trade – a bit more conservative since the market has not shown any willingness to bounce and hold those gains. But the fact of the matter remains is that we are still in an uptrend, and deciding to heavily short a market as a result is just asking for trouble in my humble opinion. 

That doesn’t mean there won’t come a time where the conditions will be ripe for shorting, it’s just that when I look at the charts, I don’t see it right now. 

But I am getting a little more conservative with my long plays as the smaller-cap stocks just seem to be getting hammered left and right of late. 

Today’s long position is in Verizon (VZ) where I got in at $45.68. If all things go right here, it could easily be a multi-week trade. You’ll see that it is climbing nicely off of its existing trend-line while facing some overhead resistance that it continues to test day-after-day. 

But the fact that it isn’t selling off here, and with the market in general is a very healthy sign that it is only a matter of time before it will break the overhead price resistance. 

Here’s the trade setup in Verizon (VZ).verizon-funny

verizon-vz-swing-trade 

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