We saw the second straight day of weakness, but guess what, there is no technical damage whatsoever on the SPX daily chart.

That is a problem because we could just as easily bounce tomorrow. Also worth considering is the fact that this is the first time we seen two consecutive down days since 10/30-31. However this bull run has been so strong that we haven’t see a sell-off in excess of two days since September. So a third down day tomorrow may be difficult to pull-off, but of course not impossible. 

I am stacked 20% short and 10% long right now, with profits in all three. I am currently holding short FFIV from $84.05 with about $480 in gains, and MGM from  $19.27 with $720 in profits. CHS is nearing my stop-loss which I am long from 17.30. Currently I am holding $972 in gains in it. My portfolio is nimble enough to be able to flip long if necessary tomorrow or pile on new short positions too. 

If you are interested in joining myself for the swing-trades and Oscar for the day-trades, then be sure to sign up for our 7-day free trial to the SharePlanner Splash Zone. You can sign up by simply clicking here. 

With that said, here is tonight’s watch-list:

Short Andarko Petroleum (APC)

Short Carrizo Oil & Gas (CRZO)

Short Dana Holidng Corp (DAN)

Long Allegheny Technologies (ATI)

Long Beazer Homes USA (BZH):