Taking Three Shorts Off the Table

Reality changes from day to day, sometimes hour to hour, so flexibility is key. I haven't had the comfort to carry many positions overnight. Ironically, I have feared carrying long positions overnight more than short positions even with the continued strength of this market. I've identified my area of concern about the topping process I see in the iShares Russell 2000 (IWM), along with the weakness in European banks. This continues to be my area of focus and my main areas of concern.

Deutsche Bank (DB) Source: StockCharts.com View Chart » View in New Window »

I've gone ahead and covered my three current shorts, Deutsche Bank (DB), Google (GOOG), and Agrium (AGU). GOOG was a scalp for me, although it has broken below the wedge from Tuesday. I am going to look at a slightly longer time frame on a short, but since tomorrow is the last trading day of the week (and today is my wedding anniversary), I want to lighten up positions. So I am taking all three names off the table this morning and booking the profits there....141 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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