So far today, the bulls are managing to keep the bears from running away with this market. However, I by no means believe that the selling is done and over with. I came into today with two short positions and now have about five. I actually looked hard for some long setups to put in this post, but there really wasn’t much worth speaking of outside of HBAN and STX. However, I could have done 15 posts on short setups today. There is no shortage of them at all.

SHORT: Braskem (BAK) – Shorted BAK at $16.25 with a tight, tight stop-loss at $16.33. It was right up against the  upper line of the descending channel, and with risk being so tight, I went ahead and added this one to the portfolio. Short at $16.25.

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SHORT: Knight Capital Group (KCG) – bit of a crazy stock today, but I like how it went right into the resistance at the price level and nearing the long-term descending trend-line. 

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SHORT: ACCO Brands (ABD) – Head and shoulders pattern confirmed here – One of the most promising charts I found today. Short at $11.17.

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SHORT: Opko Health (OPK) – If this thing wasn’t under $5, I’d be all over it today (personal preference). This chart looked so good for shorting I had to put it out there for all to see. No position. 

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