Sometimes rallies of the Santa variety can be short lived. I want my cash working in the market early so I went to work buying high quality charts. Last night’s homework, 95% of which was done on this BEAST site alone, had me ready to pounce at the first sign of heard buying.
I sold MLNX because it made new lows early this morning and likely won’t find strength until a catalyst comes along, possibly earnings or the massive migration to online shopping. I started new positions in RVBD, AMZN, and BF/B.
My largest position (GS) is performing admirably as is the entire financial sector. All my other positions are still behaving constructively. There’s a lot of session left, but the bulls grabbed the edge early.
After my morning moves, cash has been brought down to about 18%.If you enjoy the content at iBankCoin, please follow us on Twitter