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.
SSS - Kiss Off the Short Side
|Published:||5 Mar 2013 15:53 ET|
This information is provided by MoKa Investors, LLC DBA Virtue of Selfish Investing (VoSI) is issued solely for informational purposes and does not constitute an offer to sell or a solicitation of an offer to buy securities. Information contained herein is based on sources which we believe to be reliable but is not guaranteed by us as being accurate and does not purport to be a complete statement or summary of available data. VoSI reports are intended to alert VoSI members to technical developments in certain securities that may or may not be actionable, only, and are not intended as recommendations. Past performance is not a guarantee, nor is it necessarily indicative, of future results. Opinions expressed herein are statements of our judgment as of the publication date and are subject to change without notice. Entities including but not limited to VoSI, its members, officers, directors, employees, customers, agents, and affiliates may have a position, long or short, in the securities referred to herein, and/or other related securities, and may increase or decrease such position or take a contra position. Additional information is available upon written request. This publication is for clients of Virtue of Selfish Investing. Reproduction without written permission is strictly prohibited and will be prosecuted to the full extent of the law. ©2020 MoKa Investors, LLC DBA Virtue of Selfish Investing. All rights reserved.