Let it Rest

M9RhEWa

I am not going to force the issue on the short side as long as the small caps and biotechnology stocks continue to show strength and even outperform the market of late. Until that changes, cash is my favored position in this relief rally within an ongoing correction. While the likes of CMG IBM KO are getting pounded, those small caps and biotechs are up 0.88% and 1.5%, respectively. That said, into bounces now I am looking at CMG as a short setup. I also suspect the move in Apple is bound to be faded.

One of the hallmarks of a market correction is seeing an lingering bounce which abruptly rolls over and sets up the next leg down. So, that is one scenario I am mindful of, given the technical damage we have seen.

What are you trading this morning?

Latest Titanic Readings in Case of Iceberg

Titanic-sinks1

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 Friday 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 

________________________________________________________

2014-10-21_0007

Night Owl Open Forum

night-owl

For you night owls out there, feel free to drop me any market/trading-related topics you would like me to cover in a weekend video.

In addition, anything else about the current market, feel free to drop below.

Speak your mind, night owls.

Late Night Strategy for Tuesday

V0A6N3s

After a few days of bouncing, I have my eye on the mega cap semiconductor Intel as a short setup into Tuesday.

On the daily chart, below, note the bear flag pattern forming after the recent correction off the highs. I like this as a short on weakness.

I am also considering SOXS as a bearish ETF for the semis as a whole on weakness.

Drop me your top tickers overnight.

_____________________________________________________________

INTC

Anyone for a Deep Fried Apple Burrito?

l

We have AAPL and CMG earnings after the bell tonight.

Who is playing them, and how?

Looks like the burrito is pricing in a big move.

I am flat and waiting for some more information from the tape before putting on fresh trades. Perhaps tonight’s earnings reactions will shed some light.

More about this in my video market recap after the bell.

See you there.

Close, But No Cuban Cigar

Mr. Cuban went long Netflix under the theory of a buyout. If that happens then, sure, it is hard to argue with that bullish thesis behind the investment.

But the chart is showing signs of ending a mature bull run. And betting exclusively on a buyout in lieu of a healthy chart is often a low probability bet.

As I noted last week, this is a broken steep uptrend now, with the stock experiencing a shocking disequilibrium after earnings and increased competition.

I suspect if Netflix were going to get bought out, it already would have, like OpenTable.

Longs who are betting solely on the buyout and ignoring the damaged chart be close, but get no Cuban cigar.

__________________________________________________________________

NFLX

Let it Rest

M9RhEWa

I am not going to force the issue on the short side as long as the small caps and biotechnology stocks continue to show strength and even outperform the market of late. Until that changes, cash is my favored position in this relief rally within an ongoing correction. While the likes of CMG IBM KO are getting pounded, those small caps and biotechs are up 0.88% and 1.5%, respectively. That said, into bounces now I am looking at CMG as a short setup. I also suspect the move in Apple is bound to be faded.

One of the hallmarks of a market correction is seeing an lingering bounce which abruptly rolls over and sets up the next leg down. So, that is one scenario I am mindful of, given the technical damage we have seen.

What are you trading this morning?

Latest Titanic Readings in Case of Iceberg

Titanic-sinks1

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 Friday 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 

________________________________________________________

2014-10-21_0007

Night Owl Open Forum

night-owl

For you night owls out there, feel free to drop me any market/trading-related topics you would like me to cover in a weekend video.

In addition, anything else about the current market, feel free to drop below.

Speak your mind, night owls.

Late Night Strategy for Tuesday

V0A6N3s

After a few days of bouncing, I have my eye on the mega cap semiconductor Intel as a short setup into Tuesday.

On the daily chart, below, note the bear flag pattern forming after the recent correction off the highs. I like this as a short on weakness.

I am also considering SOXS as a bearish ETF for the semis as a whole on weakness.

Drop me your top tickers overnight.

_____________________________________________________________

INTC

Anyone for a Deep Fried Apple Burrito?

l

We have AAPL and CMG earnings after the bell tonight.

Who is playing them, and how?

Looks like the burrito is pricing in a big move.

I am flat and waiting for some more information from the tape before putting on fresh trades. Perhaps tonight’s earnings reactions will shed some light.

More about this in my video market recap after the bell.

See you there.

Close, But No Cuban Cigar

Mr. Cuban went long Netflix under the theory of a buyout. If that happens then, sure, it is hard to argue with that bullish thesis behind the investment.

But the chart is showing signs of ending a mature bull run. And betting exclusively on a buyout in lieu of a healthy chart is often a low probability bet.

As I noted last week, this is a broken steep uptrend now, with the stock experiencing a shocking disequilibrium after earnings and increased competition.

I suspect if Netflix were going to get bought out, it already would have, like OpenTable.

Longs who are betting solely on the buyout and ignoring the damaged chart be close, but get no Cuban cigar.

__________________________________________________________________

NFLX

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