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 Wednesday 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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I am keeping a close eye on the major casinos here as shorts, given their weak overall chart structures on top of the weakness on Thursday.

In particular, Sands looks vulnerable for a move under the $71 “neckline,” seen below on the daily chart sporting a potential head and shoulders top.

On the long side, let’s see if coffee (JO) can cement a tradable bottom here, whiile I may have to chase natty gas back due to the resurgence on Thursday.

Drop me your top tickers overnight.

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Enjoy tonight’s video, and enjoy your evening. 

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The first thing bears need to cement is a beachhead in the retail complex.

I referenced HD LOW as major retail plays which were short ideas this week.

And with their weakness today I am picking on the multi-year, monstrous winner SHW as a short right now, playing for a base breakdown on the third chart, below. My stop is a move over $209.

But given how whippy this market has been of late, I will likely cut any losing positions before that. I cut my bond short earlier to keep losses small, and am pressing my crude long.

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With the weakness in the Dow, I am pressing my Visa short here and playing for a rising wedge (highlighted in light blue) breakdown dating back to April. This is the most heavily-weighted Dow component, too.

My cover-stop is above $218.

I would be playing for a move back under $200.

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Courtesy of The PPT algorithm, here are the most current top five readings from my “12631 RELATIVE STRENGTH” custom-made screen, identifying which stocks are exuding some of the best performances to the market at-large at any given moment.

I look for stocks whose Daily PPT Hybrid Score surges, while the Weekly Hybrid has been negative over the past week. This can often yield stocks which are emerging from consolidations.

Members can click here to view and save the screen.

Sorted for at least 500,000 shares of daily average volume to ensure liquidity.

Please click on image to enlarge.

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