I’ve wanted to add a trade to the portfolio today and even considered adding a short, but once we broke out to new highs this afternoon, it made doing so a difficult prospect. So I’ve stood by for the most part today.
I did book gains in SREV at 6.56 from $6.03, where I bought it at yesterday, for a 8.8% gain. Not a bad way to start off the year.
Assuming we see some profit taking, the list you see to the right here, will provide you with some solid short setups. I really like the charts on everyone of these stocks, but a large number of them have been rising with the rest of the market, but the difference with these stocks is that they are doing it right into heavy resistance.
The ideal time to get in these stocks will be when you get that first day of selling that engulfs a few previous days of trading action. At that point is where I’d want to get short at.
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