Staying The Sell Course

Our bearish bias is strengthened by another round of Distribution Wednesday.

Anytime institutional grade selling enters the market we tighten the reigns and look to cover long positions, if not go short.

While we’ve been bearish for weeks we’ve been tested as the market inches higher.

Calling an exact top is not something we set out to do. Rather, we take a temperature of the market and decide how friendly it is for our positions.

Sooner or later these selling signs are going to be followed through on by price drops, or washed out to make way for higher prices.

As for now we’re staying our Sell Bias course…

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