Today was one of the more eventful days for me in the market in quite some time. Determined that any kind of bounce, no matter how big or how small, I would short it – and I did exactly that. I added 6 new positions today: 5 shorts and 1 long with the latter being the Gold ETF (GLD), which I’ll provide a chart on tomorrow. You’ll recall that URBN (shown below) was highlighted this morning as the daily setup of the day. I would have gotten into JST as well, but there weren’t any shares to be borrowed – that’s a shame, because it truly had a horrendous day.
If we get a bounce tomorrow (futures are up at the time of this post), I’ll probably use it as an opportunity to add additional short positions to the portfolio.
I’ll be posting my short-watch list tomorrow night as I do every week.
SHORT: Infosys Technologies (INFY)
SHORT: Linn Energy (LINE)
SHORT: Merck (MRK)
SHORT: Toro (TTC)
SHORT: Urban Outfitters (URBN)
