Bears could hold it off no longer. After a 2 day pullback, we were off to the races today. The QQQQ is almost back to its highs following the massive post-Sept 11, 2001 rally. SPY and IWM are already past that point. The year-end rally appears to be on.
Tomorrow is options expiration day, so we might get some nutty action. Next week is a holiday-shortened week.. these are usually great for traders, with lots of folks in “festive” moods to bid up stocks. The technical setup for next week could not be much better.
I’ve been doing some trading this week, but spending the most time implementing my new TradeStation software. This should help me capture shorter-term trade opportunites (based on 5, 10, 15 minute charts) that meet the criteria that I laid out here last month. eSignal, my current data provider, will show the intraday bars as I like them, but won’t alert me to the change from red to blue when it happens.
For long term accounts, we are about 50% invested. I have no short positions.. covered two today for losses. For brevity, I’ll simply list current long positions below without detail.
In order of position size:
Long TV, STEL, VAS, MXRE, FRGO, TWGP, MTD, EXPE, MU, CBOU, ILSE, CONN, TRID, CMED, ARXX, CBG, PETS, GFIG, AIN
