Random Thoughts

The Ps rallied nicely out of a flag formation. The Quack broke out to decade plus highs, gaining over 1 ?%. Rusty came back with a vengeance. It closed at multi-year highs and is just shy of all-time highs.

If you're new to all this, when a market is making new highs, it's in an uptrend. It's really that simple. I never said trading was easy, it's just not nearly as difficult as most try to make it. Yes, I know the Fourier transform oscillating wave count is at its highest level since 1999. But, I also know that the market made new highs yesterday.

Here's the score for the first quarter (I know, quarter ain't over yet):

Trend Following Morons 1 Smart Dudes 0

So what do we do? Use this opportunity to take partial profits and trail your stops highs. On the next pullback, we'll look at add on once again.