I don’t have high expectations for today. It’s likeliy to end up another ‘Manic-Monday” where stocks refuse to do anything of note except frustrate traders on both sides. Right now I’m positioned with 4 short positions, with zero exposure to the long side after selling out of SPRD for a -3.4% loss and TLB for a 4.8% gain.

LONG: Clorox (CLX) – A bit of cup-and-handle action with the potential to rise into the mid-$70’s. Like all my picks, I keep the risk at a minimum. Critical that it breaks and closes above $70.25. 

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SHORT: Conagra Foods (CAG) – Huge areas of support breaking down, which in return will give us a huge level of resistance overhead. As I’m typing this, I’ve initiated a short position at $25.85. 

746ed84d42b42a529aae0097.png (586×386)

SHORT: Joy Global (JOY) – Bear flag developing here. Not ready to pull the trigger yet, but a break at $73 would confirm the pattern as well as that nice double-top. 

c7371c38c99faffb94bf1b32.png (586×386)

SHORT: Green Mountain Coffee Roasters (GMCR) – It’s popping a little more than I’d like to see it pop, but still in a bear flag pattern with notable resistance overhead. Also note the island reversal pattern (the box).

bef99f8c4ed5a8044f191646.png (587×386)

 

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