Mike
10-12-2015, 12:30 AM
So far the long watch list is working well, housing in particular with LGIH up 17% nearing a harvesting point. I hold one short QIHU and will as long as it is working. Early last week I covered AAPL and TASR shorts at small profit as is my plan when the market has a follow-through day. It looks like I could have stayed in them.
I can have opinions when a follow through day happens and can believe it to be failure prone but I go with my rules which says to cover shorts and buy long on the FTD event. The short of QIHU I added on Wednesday was in recognition that the NASDAQ is moving into resistance and QIHU looked ripe. We shall see. Either the resistance will stop the advance or it won't. It is a canary in the coal mine.
One thing I keep in mind is that housing rallied in the 2001-2002 bear market so I may not treat them like the usual growth stock.
Watch lists are updated.
I can have opinions when a follow through day happens and can believe it to be failure prone but I go with my rules which says to cover shorts and buy long on the FTD event. The short of QIHU I added on Wednesday was in recognition that the NASDAQ is moving into resistance and QIHU looked ripe. We shall see. Either the resistance will stop the advance or it won't. It is a canary in the coal mine.
One thing I keep in mind is that housing rallied in the 2001-2002 bear market so I may not treat them like the usual growth stock.
Watch lists are updated.