Short setups in general look no where near as attractive as they did last week, mainly because the SPX has been on fire of late, as it has now rallied 6 straight days going from 1628 all the way up to 1680. That is outright impressive if you ask me.
A lot of this is being driven by the fear a war with Syria is less of a possibility than originally thought. However, if the Syria issue leaves the news, you can fully expect that the Fed and their future actions will come right back to the forefront.
I'm personally not looking to add any new short positions to my portfolio for the time being. I had Angie's List (ANGI) which I covered this morning at 20.15 for a 3.5% gain. I'm also still holding Monsanto (MON), and for now that will be all.
From the list below, you are essentially looking for those stocks that looks best for shorting the rally that most of them have been on of late - many of them, like Team Health Holdings (TMH) have rallied straight into a whole host of moving averages and price resistance levels, and that is essentially what you are looking for in the current market environment.
Here's the complete watch-list for shorting:
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 with a wife of seven years as well as one lively son. More >>
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