The bounce is happening today, as I had a sneaky suspicion of yesterday, when I closed out my SPXU trade for a quick 1.8% profit. 

It doesn’t sound like much, but hey, I don’t write the checks – the market does, and if that is the most it wants to give us for the moment, then that’s it. 

Look, when the market is down four straight days, and it hasn’t give up much of its recent gains, that is usually a good sign, to go ahead and book the profits, because the odds of a fifth straight day in the red, while possible, becomes all the more likely that it won’t happen. 

Below are the short setups that I am following – a number of them will require some patience, because they have already seen some selling in recent days with the market selloff. So now, it is better to wait for the bounce to play out before adding new short positions to the portfolio. 

Here’s the swing-trading short list: