Just go long. The best way I’ve found to trade this market is by hopping on current momentum. AMZN is breaking out currently, andI’ve taken a position there. NYX is back over it’s 200dma. I’m long and in the green there too. QLD is in the 93’s. Is 100 coming? You can’t fight this tape. Just go long. Pull up the 10 leading gainers on your favorite watch list, and just go long. BIDU, FFH, ICE, AMZN, NYX, CTRP, FMCN, JLL, AAPL are leading on my screen. Just go long.

Just be sure to sell before they pull the chair out.

Long over the 5-minute high.

It’s been eight weeks since I mentioned the bigger time frame for oil stocks. I wrote, “the OIH tried to break out of that weekly base. After trying to move higher early this morning, the stocks in the oil sector lost it. I’ll start looking for shorts if they don’t move higher soon.” That pause I saw, was quickly reversed, and the OIH ended that week at the high. We’re now 30 points higher in the OIH, with 10 higher weekly lows. It’s time the sector took a rest. Oil stocks are either going to consolidate here, or pull back. If the sector goes much higher in the short term, prepare for a blow off top. That’ll be the end of this sector’s charge higher.

I’m watching DUG, the Proshares oil and gas ultra short ETF for a reversal. This ETF is thinly traded, but should be a mover if the oil sector pulls back. I’ll buy into strength. Don’t average down.