I'll be publishing my watch-list for long setups tomorrow. Today though I wanted to provide you with my short setups that I am watching. If the market continues to rally, then it is unlikely that I'll use any of the stocks there on the right side. Some of the charts have some technical damage from the short perspective as the rally we've seen so far this month has made even the most bearish of stocks somewhat more bullish.
Going forward though, I'd watch Target (TGT) as my first option as it continues ot rise into resistance.
Smith & Wesson has rallied into resistance and sold off as a result. If you can find shares to short, this should be option #2.
Option #3 would be EMC as there is a huge support level off of the December 2011 lows that should that level break, should lead to a nice sell-off.
Ryan (@shareplanner) specializes in swing trading strategies and is the founder of SharePlanner which he created to help and teach others on how to trade stocks better using multiple approaches and time frames. Each day you can count on Ryan to provide his trading advice as well as transparency in every trade that he makes. Ryan Mallory resides in Central Florida. More >>
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