Stick With the Long Side

While the indices are down, the market has already bounced quite strongly on the better-than-expected ISM Services report. However, what continues to be most notable about the market action is the strong momentum action. Stocks such as Tesla (TSLA), Facebook (FB), Canadian Solar (CSIQ), Priceline (PCLN), Apple (AAPL), Trulia (TRLA)and SolarCity (SCTY) are acting like it's a roaring bull market -- which it may well be.

I'm going to be out for a while today, so I'm doing a little profit-taking in names I have mentioned lately, including Acadia Pharmaceuticals (ACAD), Zeltiq Aesthetics (ZLTQ)and Biodel (BIOD). But there really isn't any compelling reason to lighten up too much. One thing that is a bit worrisome is that it feels like a number of bears have thrown in the towel lately. They have stopped adding to shorts and I'm not seeing as many predictions of impending disaster....322 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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