One new earnings breakout and close on four previous shorts

Market Monitor: Bearish

The reversal after a ugly open was encouraging. However market is volatile and news driven. None of the numbers as yet are showing improvements in breadth on Market Monitor.
However a 1000 plus breakout day on Market Monitor indicates a probability of move in the same direction.
For all the negativity in the press and by various commentators, so far this market has again and again found it tough going below 20% level on downside so far.
The current environment makes it tough to hold longs for longer duration. It is a market for very nimble day traders.
Few stocks with leadership characteristics have started to breakout. But volatility increases chances of whipsaw.
So very low risk levels and very few positions is the approach I would be taking. So instead of risking 1%, I will risk around .25% per position and try and keep overall risk to around 2 to 1% only at this stage. more

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