Stocks Poised For More Upside

Published 04/18/2016, 02:31 AM
Updated 07/09/2023, 06:31 AM
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"In my experience, there is only one motivation, and that is desire. No reasons or principle contain it or stand against it." --Jane Smiley

Stocks look good in general and I’m only short Facebook Inc (NASDAQ:FB) and Tesla Motors Inc (NASDAQ:TSLA) now and they look ready for more downside but if not, I’ll be out.

We’ve got quite a few nice setups in very fast moving stocks that I’ll get into later in the full version of my letter for subscribers and I should be able to get back recent losses quite quickly the way things are shaping up.

SPY Daily Chart

SPY (NYSE:SPY) looks okay but it’s having trouble moving past 208 resistance for now.

Stocks are acting fine and looking for more upside as we move through to May

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