Gotta Stay Nimble

Markets have recaptured the 5 day moving averages and it appears that a move down to the 50 day moving averages will be held off again.  As noted in last night’s live session there is a lack of good short side candidates and now many of our “b-list” stocks are starting higher from their consolidation levels.  Today’s bullish action is confirmed by a solid A/D line with 2500 advancing stocks and 500 decliners.  It is good to see that the stocks we have focused on for short sales (SO, ADM and GILD) do continue lower but stops must be honored because reversals int the stocks can come quicker than they do in the markets.