Nasty day in the market – much of it happening in the overnight trading. With that said, I’ve updated my weekly bearish watch-list for you to capitalize on.
From the list below, my favorites are:
Arena Pharmaceuticals (ARNA) which is trading below $7 and underneath year-long support at the same price level, and despite the optimism of so many traders out there hoping for something different, ARNA is on the verge of the next wave downward.
HomeAway (AWAY) has formed a long-term double top in this market and has bounced over the past week, but in doing so has done nothing but run right into heavy resistance which offers an optimal opportunity to get short again on this stock.
Finally, Intersil Holding (ISIL) has consolidated after an incredible run up, and is now looking to start a long awaited pullback. A target to fill the gap at $9.25 seems likely at this point.
Here’s the rest of my bearish watch-list:
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