Bears… bust out your guns, we’re taking down Asia

Sneak attack!

So far I got NCTY short.  Still holding on to CSIQ (“Canadian” in China? Lol) because if I cover, I’ll never get any shares available to short in the future.  Covered CMED a week ago, will re-enter.  Lots of shares available to short in the bigger names like NTES, ACH.  If you can, grab ZNH shorts do so for possible -20% drop in a few weeks.  SINA is good for -10% retracement.  Easy entry/exit play on CTRP for chartist.  Stay away from spikers like FMCN, GU.  They’re good for day-trade longs.

I am waiting for EDU to confirm reversal in entire China sector. So far, SOHU is our first leader that is showing weakness.

Developing…

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Completely coverd shorts:  BBY 32.67 ( -1.5% short at 32.18)

Broke my streak.  Oh well… I was a little afraid of a bounce this morning so I bailed out on this short.  I figured I held it for a few days and it hasn’t broken down as fast as I would like.  So, just trimming here.

Market is in very dangerous territory… everyone expecting a bounce, but what we’re getting is choppy waves.  No one likes to surf choppy waves!  Let’s see if we get a little more shook.

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We’re getting cheap.

I’m picking up some trends under the radar in companies that provide discounted products and other cheap crap.  It appears nothing will stop Americans from shopping- not a failed bank, maxed out credit card, debt collectors, whatever.  We just love to spend.  It’s a habit, or let’s just say, it’s America.  You can’t stop us from spending money!  We are a modern day epicurean society.  Oh well, “let us eat, drink, party party party because tomorrow we will die.”  Okay, maybe not that extravagant, but when you figure the banks are going to die, why not just enjoy the money while you still got it.  It’s wrong, it’s all wrong, but that’s where we’re heading.  When will we learn?

Anyway, I already notice a few trends that show the “hidden sentiment” of society…

Trend:  continuing education stocks are going up
Theory:  Unemployment is rising, so people, even old 40-something-year-olds have to learn a new trade.  Or the more optimistic feel that this is their chance to change their career and move on to another field.  That’s cool.

Trend:  Home foreclosures going up, banks going down
Theory:  We are liars.  We lie to ourselves, to the loan officers, to the banks so that we can live a lifestyle we can’t afford.  Ooops.  We’ll lie just so we can shop.

New trend:  Mini-bulls in discount stores?!  Check out the accumulation in DLTR and ROST.  Last time I checked DLTR’s earnings was exploding.  It’s now a fast riser on the IBD 100.  Then there’s Ross (ROST).  Ladies and gents, these are companies that sell stuff for cheap.  I won’t lie, I bought a travel bag that holds my bathroom stuff from Ross.  It was like $12 or something ridiculous for a good quality brand.  I even bought some socks- got a pair of soccer socks for $1.  Sheesh!  I can use them then throw them away and still save money than if I shopped at Nike Town.  Anyway, all I’m saying is that when these cheap stores are having beautiful earnings, volume accumulation, and bullish price patterns, then there has to be an explanation in society.  If we can’t afford the “suggested retail price”, then why not get it for less?  Why not get it for a $1!  Lol.

Anyway, here are the “discount stores” that are approaching 52-highs.  Love the volume accumulation on them all.  So far, these stocks are the few that have not suffered from our late correction.  These stocks are only a few examples, but the sort of illustrate my point.  Can you sense the slight changes in your community?

DLTR, ROST, NDN, FDO

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Completely covered shorts: 
PCX 6.09  +26% short at 6.44 ( for PCX-short rational click here )
YGE 10.14 +52.85% short at 15.50 (for YGE-short rational click here)

New longs: 
PALM (14.61)
CBOU (5.28)

New shorts:
APOL (65.71)

I just destroyed the energy sector.  I’m covering a few of my insane reversal plays on coal (PCX) and solar (YGE).  YGE has been dropping like 10% a day, it brings me joy.  Talk about major surf!

After watching the market fall for a few days straight, I felt it important to buy more longs.  I went with CBOU (coffee) on the dip, and PALM which is heavily shorted (wrong stock bears).  I also like STAR and ORCC but will play those later.

As you can see, my next target sector to destroy is education.  I actually have two target sectors (besides retail)… 1)  school fade , and 2) death to exchanges.  Take a look at them today:  CME and ICE getting pounded.   Something about hackers?  Well, I’ll have to short on the second correction.

Burn suckah burn!
g
iBankcoin
o

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Was June the top?  Everyone has been waiting for the bounce, but the VIX was just too low.  Why would you NOT start taking profits when the VIX was <28?  When it hit 25?

  

The more and more sell-offs we get, the better the volume on the sell side.  It’s nice to see the VIX in the 30s, but what makes it better for the bears is

1) trending up intraday VIX (not a spike)
2)  the accelerating sell-off into the close on all major indexes.

Shorting now would probably be a little too late.  I would, like the bulls, wait for a bounce.  Or you can be like me, and just short anything that breaks down.

YGE -10%, PCX -5%, TRLG -3%, CSIQ -5%, BWLD -2%, BBY -2%

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Holy crap commodities are getting punked.  My stupid “JASO HEDGE” is eating me alive.  I’ll keep this post open for the rest of the week.  So go ahead, tell me I’m wrong or tell me I’m right.  Commodies are going down!!!

For now, take the quiz…

I hate ________________.

a)  Solars
b) Gold and precious metals
c)  Oil
d)  Agriculture/Fertz
e)  Cheap metals (copper, titanium)
f)  All of the above

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