So far today, I am not adding any new positions to the portfolio. I am at a point here with this market, where I’m not willing to add any additional exposure to the portfolio (currently 30% long and 70% cash) from a long standpoint, until this 2111 on SPX is cleared. It is simply to choppy too get heavily tilted long here when the bears could easily re-emerge and take the market lower, and thereby establish a textbook double top on the daily chart. 

So, break 2111, bulls, so that I can “Make Buying Stocks Great Again.”

Humor aside, the choppiness of the last 8 sessions have not been easy for traders, and I see no sense in adding to the portfolio choppiness by adding new positions. Plus you have two separate occasions where freakin’ Yellin is babbling her mouth today. Not to mention Bullard and Lockhart were at it this morning. So for now… I am remaining patient. I’d like to add new positions, but I won’t until there is some technical movement on the charts here. 

But go ahead and start picking out some stocks that you’d like to buy once the conditions improve:

bullish watch-list 6-6-16 

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