The Daily Dose of Trading Comments

For anyone foolish enough to be strictly bearish this market at this time, it's been another day of pain. The Street just keeps taking the bid higher and the chickens are yet to come home to roost. This morning I have began walking through charts that have shorting potential. I have also parceled out a few more long positions into the strength but am mostly putting stops in behind those that are moving and simply giving them room to climb. The day after Thanksgiving is typically a very positive abbreviated trading session and if that holds true again, look for the following Monday to be a continuation trade.

My personal portfolios haven't done that well today as I started shifting to the oils and they are taking some lumps here. We have a few fliers that are participating but my reluctance to hold a full portfolio this late in the game shows today. It is what it is though and I wouldn't trade my growing cautiousness despite the extra gains that could be made.