More Titanic Snobbiness

If we see Monday afternoon’s market bounce roll back over, here are some actionable short ideas on this list.

Courtesy of The PPT algorithm, here are some very aggressive ideas for short trades headed into Tuesday. If you are not comfortable shorting (especially in a bull market), there is nothing wrong with taking a pass. Keep those cover-stops in place. Nonetheless, a good chunk of readers are always looking for short ideas.

Members of The PPT can click here to view and save this “Titanic” Screen, as I named it when I created it a few years back. The screen isolates stocks vulnerable to further weakness.

Please click on image to enlarge 

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Consistent with a late-stage bull market rotation into “safety” and energy sectors, BPT SJT are two energy trusts with sizable dividends.

On their respective daily charts, below, note the recent strength. Watch to see if the rotation continues into this space for long ideas.

Also recall the strength of these energy trusts at the end of the last bull market in 2007/8.

Drop me your top tickers overnight.

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Enjoy tonight’s video, and enjoy your evening. 

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Another late-day V-shaped rally saved the bulls from a deeper pullback, as the Nasdaq bounced hard.

The market still has damage to repair, though the tide has been stemmed for now.

Turnaround Tuesday?

Stick around for my video market recap after the bell…

Each time it looks like the market is on the cusp of wiping out, buyers seem to appear to stem the tide, at least temporarily.

With this in mind, I shorted and then quickly covered a piece of my LVS short inside 12631 earlier.

The chart, along with the other major casinos, is in danger of topping out here. However, MGM earnings are tomorrow and that reaction could easily affect the space.

The conventional wisdom seems to be that we are rangebound. Thus far, we have teased a few breakdowns without a real plunge. Volatility remains benign, despite the carnage in many growth leaders.

I am taking my shots on the short side but trying to lock in partial gains when I find them.

A bit of the old, in-out, ultra-violence, if you will.

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LULU is giving a similar look to the recently-broken CREE (and VECO) on the weekly chart, below.

I have been quite bearish on the stock for a while now, due to the troubling technicals, and the worst may not be over yet.

A complete wipeout below $42 is possible, if not probable at this point.

Other short ideas this afternoon: LVS NKE RL SBUX.

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