The Shorts are Longs? Portfolio Changes

We will exit MDRX at the open tomorrow. See how this mechanical stuff works? It closed today above the highs of the previous 2 days. That is the exit. Simple and unemotional. We’ll do that over and over and see what happens.

The new entry will be KWK a pick sent from a reader of the blog. Looks pretty darn nasty.  We’ll add it to the portfolio.

I also wanted to note the huge Naked Close Reversal that occurred at todays low of the day on a 5 minute chart of the SP-500 futures. It is denoted with a close above or below an an obvious breakout point. In this case below. These typically occur on big volume, near psychological woosh points, in areas of obvious stops, and in very rapid trade. In this case it was defended throughout the rest of the day.

Have a Great Night!

Dave Johnson