Visa Everywhere I Want My Short to Be

As I have been noting, any shorts I take here are bound to be mega caps with very low short positions in the float, to avoid falling victim to one of these vicious squeezes we have been seeing.

Visa is the most heavily-weighted Dow component. And my short position is slowly moving in the green as the stock breaks under $210.

The thesis is fairly simple, with the weekly chart below showing a potential lower swing high and a potential rollover to new correction low.  That said, I have a fairly tight cover stop here in the event we see a post-Fed melt-up.

Still, I am content to be focusing any shorts I take on relatively safe stocks, as opposed to getting a face-ripper in some of the high beta names.

The time to short the high flyers is when we transition into an established bear market, as they are under steady distribution then.

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I am adjusting with the market, and have been playing names like CREE YELP on the long side on the back of my FEYE SPLK TWTR trades previously.

My Visa short is a slow-mover, which is fine by me, as I am not interested in the least in shorting heavily-shorted high flyers.

Crude oil is resilient, once again, as is silver.

The Fed may very well change things up this week, as far as the market. But I am still going to focus on what this market is giving me. With that in mind, a few beaten-down names setting up here for quick short squeezes: ANR CLF WLT.

Overall, I expect the marquee names like NFLX TSLA to coast into the Fed, while select trades are for the taking elsewhere.

https://www.youtube.com/watch?v=Vh3WCvO6kr0

The following is just a small excerpt from my latest Weekly Strategy Session (please click on that hyperlink for details about trying it out). which I published for members and 12631 subscribers this past Sunday. 

​III. LONG TRADING IDEAS

I like the following long ideas only on further strength this week. I recommend that you keep protective stop-losses on all trades, not much looser than 7-8% from where you initially buy. Also, please be sure to check earnings dates for any and all of your holdings.  

1. ATVI
2. CSTM 
3. EA 
4. FLS 
5. FTK 
6. GTAT 
7. TK 
8. VIPS 
9. YPF 

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Enjoy tonight’s video, and enjoy your evening. 

Direct Vimeo Link Click Here

Short squeezes abound, with the most heavily-shorted stocks continuing to put the hurt on bears leaning into them.

A few ideas into the bell, and to watch for strength tomorrow, with heavily-shorted floats: IPI LXK UVV X. 

Of course, the short squeeze leaders are marquee names like NFLX TSLA, even SCTY and the solars.

There is no telling how long this can go on for, just as we saw last year around May. The main thing to do is adjust, be quick, and try to lock in gains when they are for the taking and trail up a stop.

Stick around for my video market recap after the bell.

Silver Wheaton, the top silver miner, continues to see each bit of weakness bought.

The silver metal itself is showing relative strength today, as gold and many miners consolidate their fierce rally over the past week.

Going forward, this is a bullish development for the complex to monitor, as we know silver was the weak link for nearly a year.

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