James Taulman
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Possible Start of Counter-Trend Rally

Dow futures up +172.

As I stated yesterday – “We may get a rally from here within the next few days, but the broader outlook is bearish.” and “I would be cautious at this point of entering any new SHORT positions.”

Today could be the start of that move.

What to do?

Well, we are covering our SHORTS as we closed out DB yesterday.

At 11:59 AM I issued a “COVER: TradeTicket Alert” to close out DB with a +4% profit.

If anyone shorted HASI (+10%) and did not cover yesterday, look to cover today.

I am now on the lookout for any (LONG) nimble trades, as I called them yesterday.

Our JCOM is our only remaining LONG as it continues in an uptrend.

We will just have to be patient and see what the market gives us.

Not looking to force the issue here as things are still very unstable and the longer-term trend remains bearish.

I will have a new list of potential SHORTS or LONGS ready when appropriate.

NOTE: The above is an excerpt from my Daily Stock WatchList & Portfolio Update. This morning report includes my watch list for the day along with complete BUY, SELL, SHORT or COVER commentary on my current holdings. Make sure you do not miss any of these new reports, please take a moment and get signed up here.