The Daily Dose of Trading Comments

The fact that early gains stuck has a bit of a scramble taking place this morning as players are caught poorly positioned. There was somewhat of a disbelief that the Santa Claus rally would show, not for the lack of trying mind you. But with the push this morning, it just may come to pass and that has players scrambling a bit to increase their size or to cover their shorts, both actions which causes prices to get even more sticky.

I only had two buys this morning (the two precious metal purchases) and a couple covers so far to book gains. At this point, I believe we have the setup we were looking for and now we have to be patient and allow it the chance to play higher. That doesn't mean I'm ignoring a potential downdraft as I have taken some stocks that have just taken off and put some stops under them, but for the most part, it's give them room to work higher for now.