Sell in May and Go Away

An old Wall Steer Adage but does it apply now. As you know I was ready to add to my short Q's last week if it took out the previous weeks lows. This hasn't happened but still looks toppy to me and I will be ready this week after the long weekend. Of course this may just end up being a 4th wave here with one more move up in June/July. In the meantime I am still short.


Although I sold my OIL position the week before , last week saw new highs Wednesday. I did not chase this on with the gap to big. Will look to get long again on hourly basis if the gaps get reasonable.


Gold continues to make new highs for us and should be long this one.


One other position we added on Friday short was Whole Foods. (Thanks Dan) This is a text book setup with the MACD divergence. Hopefully we will see some follow through here.