It’s got higher to go to reach the 50 day averages and is not over bought, but in keeping with the recent theme, I sold IDTI (as w/ MSCC and FARO before it) taking the 8% and am going to enjoy the weekend (when I get breaks from report writing).
This leaves 2 ‘bounce longs’ left, both in the medical/healthcare area and the energy sector (evaluating whether to take partial or full profit), which is an ongoing NFTRH+ highlight for both long (investment) and short-term (trading) orientations. I have also added a short on the Small Caps (against TNA) to go with one on SPY. Finally, I have taken risk management steps in the precious metals, including an old fashioned concept known as profit taking.
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