Still Long?

If you are, you should start thinking about unloading some positions. Yesterday was another unloading day as the DJIA has failed to break through (and close above) resistance at 12,300. I took profits in TWI (shares from 19 and 2o $6-7 gain), KALU (shares from 70 and 72 $0-2 loss). I still like BARE and I think it may head higher. I also like JSDA and also believe that you should hold this one for longer. Also, if you were INXI, now is the time to take profits as the stock closed near its LOD after it hit a new 52wk high.

An interesting (and volatile) long that I have recently picked up is CDI. This one tends to run all over the place (up, down) in the course of a single day, so if you choose to play it, be careful and do not over pay.

Short Idea: MWP . I have to first say that MWP is just an idea for now. If you plan on shorting it, make sure it first begins to falter and then go in for the kill. Shorting a stock before it breaks support levels is never a good idea and I learned this the hard way (when I first started to look for shorts). Unless you are a 100% sure that a stock will begin to decline from its 52wk high, you shouldn't short anything unless it is failing to hold above its MA's or support levels. So, for now, just keep an eye on MWP and watch to see if it falters. For now, it is just a good candidate as the stock has had quite a run from 20-63 without much of a breather. In addition, MWP is also not as cheap as it just to be and it has reported lousy earnings.

Futures: Long: Cattle, Soybeans, U.S. Dollar