It’s setting up to be quite the start for us bears today. as the market is down well over 1% heading into the open after some more global economic worries in Asia suddenly entering back into the minds of investors. There is quite a few reports coming out this morning with the Redbook at 8:55am ET, followed by S&P Case-Shiller Home Price Index at 9am, and finally Consumer Confidence and State Street Investor Confidence Index – both at 10am.
I’ve tightened my stop in a few of my positions: Yahoo (YHOO) is now at 16.11 and on the SPDRs S&P 500 (SPY) it now sits at 113.59.
If the opportunity is still there early on this morning, I may look to add a couple more short positions to the portfolio.
Here’s Today’s Trade Setups.
SHORT:Ruths Chris Steak House (RUTH)
SHORT: Vocus (VOCS)