I've provided a snap-shot of my watch-list short for this week, should we continue to head lower. In most of these names, I'd like to see a minimal bounce before shorting them, while others are breaking down and you have to act swiftly.
I would love to see a nice bounce out of ISIS, because that stock is just in full meltdown right now, and others like OHI look good this very second.
As I've said before, for this trading climate to really get bearish, we are going to need to see a sell-off and close below 1430. That would do a lot of things effectively....
1. Lower-low in the market
2. Break the uptrend off of the 6/4 market lows.
3. Violating key price support that has held for numerous months now.
So there you have it - SPX 1430 is key to this market.
And by the way - if you want real-time access to mine and other trader watch-lists, be sure to sign up for SharePlanner Pro while it remains in preview mode.
Here's my Short-List:
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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 >>