No New Swing Shorts For Tuesday

May 26, 2007

There were no shorts in my scan today that would make good shorts in a bear market.

The market is still in a solid uptrend and shorting this market is simply the wrong and higher risk lower reward play. Top callers are still making a mistake here as the market really has given no indication that it is in any mood to turn lower.

The Nasdaq does have six distribution days. But with the index still above the 50 dma and the overall trend still up, it is just silly to short this market. The big money is made on the long side right now.

Don’t believe me? How much are the top 10 shorts up and how much are the top 10 longs up since the February 27th selloff? If you don’t have the software to scan the market, you can trust me when I say the longs are killing the shorts.

Don’t fight the trend!

Last 5 posts in Free Archives Shorts

Posted by Joshua Hayes | Filed Under Free Archives Shorts 

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