Today’s move will definitely have me looking to the long side in the event this is the continuation of the big up-move that started a few weeks ago. One has to be careful in a highly news driven environment because things aren’t always what they seem. Last week I was buying the pullback and everything looked ripe for follow through and the markets ended up selling off the entire week.
Tomorrow is going to look extremely good in the pre-market and I think the best move is no move at this time, even if you’re positioned long or short. Or if you do make a move use a hedge of some sort to offset any losses and wait to see if this move is for real. I’m adding KO PDC FTK to my watchlist and will be looking to add them on some sort of pullback as they are overbought right now. Just as a number of other stocks have run up too far to fast in my opinion like LULU UA VMW.
