What was that yesterday? Where was the volume?

That had to be one of the least interesting trading days in my entire trading career. I mean, it was horrible, miserable – and outright boring. 

Even so, there is a market to analyze, and what you had yesterday was a situation where there was nobody willing to buy stocks at all-time high levels, but also no one willing to sell their current positions, hoping that somehow the market would still continue going higher. 

Perhaps traders are full vested in this market with no more cash to throw at it (not likely but it sure did feel like it). But another boring day like today, and I won’t embrace the idea of holding my current number of long positions and will look to scale back some. 

I’m not saying I want to get net short on this market – that is a bad move at this juncture, but there may be some quick money that can be made to the short side on one or two manageable and obvious short setups. I want to keep a net long exposure on this market until the market dictates otherwise, but while waiting for the next leg up (if that is to happen), it wouldn’t hurt to play the short side here, especially if the market wants to pull back 1-3%. 

I had been watching the cruise line stocks, namely Royal Caribbean (RCL), but that rally today, pretty much negates that ideal. But there are plenty of other ideas out there to warrant consideration. 

Nasdaq is running a 7-day winning streak. Netflix (NFLX) reported amazing earnings last night, so that will help matters. On the flip side, the health care bill has died in the Senate, so that could also weigh on stocks, particular health care stocks. 

We’ll see what the day gives us and go from there!

S&P 500 Technical Analysis

Current Stock Trading Portfolio Balance: 

• 6 Long Positions

Recent Stock Trade Notables:

• American Airlines (AAL): Long at $49.26, closed at $51.84 for a 5.2% profit
• Intel (INTC) Short at $35.21, covered at $34.46 for a 2.1% profit. 
• Nvdia (NVDA): Long at $155.57, closed at $157.53 for a 1.3% profit. 
• IBB: Long at $298.24, closed at $303.74 for a 1.8% profit. 
• SPXU: Long at $15.68, closed at $15.25 for a 2.7% loss. 
• Whirlpool (WHR): Long at $190.46, closed at $195.19 for a 2.5% profit. 
• Ferrari (RACE): Long at $84.60, closed at $89.93 for a 6.3% profit. 
• Amazon (AMZN): Long at $964.70, closed at $1001.23 for a 3.8% profit. 
• American Airlines (AAL): Long at $49.18, closed at $50.62 for a 2.9% profit
• Alibaba Group (BABA): Long at $124.95, closed at $137.51 for a 10.1% profit. 
• Starbucks (SBUX): Long at $61.78, closed at $63.68 for a 3.1% profit.
• Western Digital (WDC): Long at $91.24, closed at $89.29 for a 2.1% loss. 
• Broadcom (AVGO): Long at $236.65, closed at $241.15 for a 2% profit.
• SPXU: Long at 16.60, closed at $16.98 for a 2.3% profit.
• JP Morgan Chase (JPM): Long at $87.84, closed at $85.98 for a 2.1% loss.
• Micron Technology (MU): Long at $29.00, closed at $28.04 for a 3.3% loss.
• Alibaba Group (BABA): Long at $116.25, closed at $124.09 for a 6.7% profit. 
• Southwest Airlines (LUV): Long at $58.35, closed at 57.23 for a 1.9% loss.  
• Broadcom (AVGO): Long at $223.63, closed at $228.65 for a 2.2% profit. 
• Workday (WDAY): Long at 86.00, closed at 90.32 for a 5% profit. 
• Univar (UNVR): Long at $30.96, closed at $32.20 for a 4% profit.
• Alibaba Group (BABA): Long at $111.91, closed at $115.48 for a 3.2% profit. 
• Redhat (RHT): Long at $85.21, closed at $87.21 foor a 2.4% profit. 
• Darling Ingredients (DAR): Long at $15.19, closed at $14.90 for a 1.9% loss. 
• Apple (AAPL): Long at $143.82, closed at $147.11 for a 2.3% profit.
• Teradyne (TER): Long at $31.16, closed at $33.03 for a 6.0% profit.
• UPRO: Long at $92.75, closed at $94.78 for a 2.2% profit. 

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