I've traded a lot and haven't updated the journal for individual trades. For the first time this year, I find my self entirely on the short side. But like buy strength on longs, I'm selling the weakest stocks short.
But first some index charts
VIX: RSI - piked up support -- look for a run to the green line
Biotech: Earlier this month, and most of this year biotech were strong. This week my biotech trades did not hold breakouts and I was repeatedly stopped out of them.
BIB, The index although one of the most bullish sectors got its breakout rammed back down. If there's a positive it would be the that the volume is diminished. This could start an avalanche and really get going to the down side.
IWM:
TRANSPORTS:
Transports have been weak for most of this year I think the move below the RSI support line and failed rally up to 10week and RSI line is an ominous signal.
\
ENERGY:
The phrasing continuous-- volume still strong but not blow capitulation strong.
Financials: I have no concerns yet with this sector-- It appears to be the pocket of strength sure it was down on the week but is holding the 20 day. Bullish trades probably can still be found here.
Individual shorts:
GMCR:
This stock is massively wounded
FWRD:
Struck hard on high volume
Should continue to drip
entry 48.64
RPD:
entry 17.08
Blowing out the bottom on the longer scale
ATI:
No comments:
Post a Comment