SSS - Kiss Off the Short Side
With the market making higher-highs in a continued rally it is quite clearly in what we would call a "de facto" resumption of the uptrend. Progress on the short side will be difficult, at best, and in fact capital is likely better deployed on the long side. ALXN has blown through the 90 resistance level and the upside stop. While AAPL may continue to lag, one must still consider the opportunity cost of remaining short in a strongly uptrending market. In our view, there is no reason to be short anything here until further notice.
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