About That Knife-Catching Market Bottom

Whoopsy-daisy!

Semiconductors are starting to unravel a bit, in addition to the leaders this morning.

Back with some analysis in a bit.

By now, you probably know of the rotations into the “safety” stocks, namely the consumer staples.

To my eye, Pepsico is looking as ripe as any of them on the long side, along with K.

In a battle of Bloods and the Crips, I favor PEP over KO in terms of the techcicals.

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Here are some actionable short ideas on this list, especially if the market sees another day of weakness.

Courtesy of The PPT algorithm, here are some very aggressive ideas for short trades headed into Friay. 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 blog post I wrote on Thursday, I am looking at General Motors again on the short side if price moves back down through $34. There is still a major topping pattern in play here, seen on the daily chart, below.

And some long ideas holding up well, if we see a broad market bounce: ANR H RSPP.

Drop me your top tickers overnight.

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If you enjoy my blog posts and videos, then I would encourage you to please click on this 12631 hyperlink for more details about joining our great team of traders at a very reasonable price. 12631 is a trading service which @RaginCajun and I direct here at iBankCoin.

Enjoy tonight’s video, and enjoy your evening. 

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Into the bell, I flattened out again, closing some small winners and losers inside 12631. My main focus is still on staying in hit-and-run mode on both sides of the trade, including inter-market opportunities.

Avoiding big drawdowns is key for my style of trading, which is why I have no problem moving back to the sidelines with a near-full cash position again until we gain more clarity into the market’s next direction.

Today was a wild morning which led to a grinding afternoon.

Precious metals are still trying to fight the good fight.

More in my video market recap after the bell….