Wednesday, January 02, 2013

I'm sitting tight in these...

Despite the Dow and Nasdaq indices giving short signals a couple of days ago, I did not follow them and start switching my bias to the short side. Why? Because my existing long positions were holding up (refer to this post for more), combined with the uncertainty over the US and its 'Fiscal Cliff'. As a result, 2013 has started for me in positive fashion.

I have shown a couple of charts for stocks in which I already hold long positions, and for which the entries were called in real-time via the protected Twitter feed. My job now is simply to hold these positions until such time I get an exit signal. There will be no manual closing of the position - I will simply update my trailing stop as per the charts, and which will take me out of the positions when the trends have finished.

On a separate note, the indices have predictably flipped and are now back on long signals. Indeed, as I type this the US Russell 2000 is now at new highs, and has surpassed its previous highs made in 2011 and 2007. The German DAX is also at new highs not reached since early 2008.

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