• bullish-watch-list-8-10-15

Bears realizing nothing goes down forever!

Honestly, it is quite amazing really, when you are shorting stocks, don’t risk getting taken out on the bounce. If you can get 4 or 5 really good days out of a short position, go ahead and wrap it up and close out the position. Don’t tempt fate. There is no point riding it any longer, because often times it takes only one day of bouncing for the market to wipe out those gains, particularly when it comes to individual stocks. 

Nonetheless, the bears find themselves in a non-stop short-squeeze today. Oh, and Aquinox Pharmaceuticals (AQXP) found itself making a move from the $10’s all the way up to $55+.  

But since then the company has lost 1/2 its market value and is now trading in the $23’s. Totally normal for sure.

As for me, I have added another long position to the portfolio, but while the market is soaring, with the help of Apple (AAPL) rocking 3.8% today, there are a number of other big name stocks struggling to find any traction – like FB, AMZN, GOOGL, TSLA. 

I won’t be adding any additional positions today and find it important for the market to establish a new short-term higher-high by breaking through 2114 level either today or sometime this week (better chance of it being the latter). 

Stay nimble folks, the bulls are making a strong push today, but as we have seen many times previously, it doesn’t take much for the markets simply falter. 

Here’s the long trade setups:

bullish-watch-list-8-10-15 

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