Monday, April 26, 2010

Waiting For An Oversold Condition

The McClellan Oscillator is holding in a range. At the moment I am not entering new long positions until it becomes oversold at -200 or lower. I will exit my two remaining short-term short positions at that time, should it occur, and will be looking to add short-term longs.

The action today continues to be consistent with a developing blow-off top. Size positions accordingly.

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