Despite a post-election gap higher this morning, my biotech short is still working in my favor. In addition, short setups abound, including AMZN F GM LVS MGM WYNN, and others. A few recent IPO’s like LOCO RWLK still appear to be decent long setups on strength, and BIDU is a relative strength standout.
Also keep an eye on DDD PRLB to see if they follow peer SSYS lower in the 3D printing space.
One other area I am watching for a reversal lower would be the REITs, as the steep run higher the IYR has had looks long in the tooth.
Overall, though, not much has changed for me and my market posture. Bears in certain parts of the market continue to get run over, while other types of bears are making out surprisingly well.
I suspect a close in the red today would set up further weakness into next week. But, as we know, that is a big “if” considering we can expect dip-buyers to give it the usual effort sometime today.
Haha, he got his face punched in, how fitting as usual