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I will be selling the position in CELG which I had a nice move in and adding a second position to ALJ.

My own opinion as to where we go from here in the stock indexes is that we are in a bullish overall picture but in the short term we are overbought and pulling back would not be out of the question. My trending type strategies are now beginning to kick in because of the recent strength. Personally I would like a controlled pullback of about half of this recent up move and then continue above the previous swing high. Will it happen like that.?... Probably not, so I will make decisions as they placed in front of me.

I have heard a lot (myself included) this week about the lack of volume and how traders are really excited for the big players to come back into the market. All I can say is be careful what you wish for because on an intraday basis, during this recent slow trading period, I have enjoyed the heck out of it. Intraday trading in the SP futs was slow yet had very predictable patterns in my opinion. I loved it.

So onward we go............



Have a Great Week!

Dave Johnson

dayvejohnson@gmail.com

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