V-Day Love

Without a doubt, the markets were showing some Valentines Day Love to investors and traders. Call it a gift or confidence in the markets and the economy-call it what you want. All that matters is that stocks were able to extend the delicious gains that were attained from yesterdays blockbuster move. Today's move was also equally impressive as it helped the DJIA soar to new heights. In fact, today's close is the highest close ever. I know, I know the shorts will start ranting and raving that the move is over and that the market is going to plunge now. Nonsense. If you believe that then you will never make a dime in this environment. The markets are due for a pullback and pullback they will. Either by tomm, the end of the week, whenever. Still, I believe that the pullback will be small and temporary. I believe we have more room to go. There are many stocks that are starting to form cup bases, double bottoms and begining the right side of their bases. The breakouts that we are seeing in some stocks are fresh and earnings driven. They are providing the catalyst that will help spark many more upside moves. You don't have to believe me. This is just my opinion. I've been long since the day the markets bottomed out a few months ago. Nothing has changed in the trend to persuade me to start shorting. I posted a few shorts the other day for those who really want to short. If you want go ahead. Stocks that are failing the rally are garbage and should be shorted. But remember, 3/4 stocks follow the general market. By going short, you are increasing your risk and not your reward. That's just my two cents. Do you.