10-07 very simple,sell out of longs
US stocks were up for the third consecutive day on
Thursday with strong gains in the popular individual
stocks. We don’t expect the stocks to continue up in a
runaway fashion considering the type of news that must
come out of Europe to address Greece’s “drop dead out
of money” date which is in October.
We strongly suggest to use Friday as a time to sell out of
long positions even if stocks are moving up. This is
about risk management and booking profits in what has
been a short term 2-4 day hold time on swing trades both
on the long and short side of the market. The next cycle
of short term trades will likely be on the short side
The Dow30 was up 1.68%, Nasdaq Composite was up