No follow-through on Friday's late afternoon push, and now the market could be in real trouble. A break of Friday's lows and the S&P could see its 200-day moving average in short order. Its 50-day moving average has already turned south, although not decidedly so. Still holding our shorts, maybe adding.
Current Holdings |
Ticker |
Basis |
Closing Price |
Perf. |
Sell-Stop |
Addl Exit Guideline |
Chart |
SRS |
7.61 |
8.56 |
+12.5% |
7.64 |
N/A |
Chart |
MZZ |
21.11 |
23.89 |
+13.2% |
21.92 |
N/A |
Chart |
DXD |
31.66 |
32.13 |
+1.5% |
31.18 |
N/A |
Chart |
PSQ |
45.26 |
46.57 |
+2.9% |
45.25 |
N/A |
Chart |
QID |
21.71 |
21.58 |
-0.6% |
20.37 |
N/A |
Chart |
There's the potential that the train leaves the station tomorrow. If not, FST might be good for a bounce.
New Trade Ideas
Ticker |
Entry |
Exit A |
Exit C |
Chart |
TWM (Ultrashort Russell 2000) |
28.73 |
27.20 |
N/A |
Chart |
SRS (Ultrashort Real Estate) |
8.71 |
8.06 |
N/A |
Chart |
FST (Forest Oil) |
24.71 |
23.45 |
N/A |
Chart |
Please refer to "How To Trade The Ideas" (right-hand side) to read this table.