Latest Titanic Readings in Case of Iceberg

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 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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Headed into Friday’s session, there are certainly not many high probability, actionable long ideas for anything more than perhaps a quick, intraday snapback trade. Two of the more notable outperformers of late have been OPEN SKUL.

The first chart below is the SKUL daily. While not entirely clean, it is in an uptrend and has been consolidating its recent gap higher in a fairly orderly manner. Watch for resumption of strength.

And on the short side, there are plenty of ideas I noted on this blog, inside 12631, and in my video market recap.

Letter X is one to keep in mind, under Thursday’s lows, seen on the second chart, below.

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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I scaled more of my TVIX long this afternoon, as I am working other bearish bets via short equity positions.

Overall, the market has trapped dip-buyers from yesterday and even from earlier today. A true change in character? To be sure, bears have plenty more work ahead of them to prove that.

But when we see charts like C COST LULU RL SBUX even names like V finally cracking a bit, it is tough to get too eager about buying dips, just yet.

More on my video market recap after the bell…

I know it has become a chic value play of late, but I have not seen enough progress by bulls in Nifty Fifty star IBM to push me off the thesis that this long-time market bellwether continues to flash warnings signs.

As a result, off this recent 200-day moving average rejection I went short a starter position inside 12631, above $184, looking for a deeper pullback.

My cover-stop is a close over $191.

We have largely seen a trend day lower in the markets, so be on watch for some potential downside fireworks into the final ninety minutes.

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I sold a piece of my TVIX long inside 12631 a while ago, locking in a fast 11%-plus win into this volatility spike. You can be sure I will keep a close eye on it, though, as I know how quickly these volatility spikes have faded in recent years.

A few points to consider about the VIX:

1. I am not crazy about doing technical analysis on the daily VIX chart, but you can see the Bollinger Bands pinched on the daily timeframe, indicating a big directional move is likely imminent. 
2. Those pinched Bands likely trump the fact that price is above the upper Band now, or “overbought.”
3. The VIX is notably outperforming the volatility ETFs of late (TVIX, UVXY, VXX, to name a few), which can indicate a lack of real fear on the part of retail traders, who would normally be diving into the vol ETF’s.

In other words, the setup is there for a more meaningful move higher in volatility here. Let’s see if bears have more intestinal fortitude than last year.

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