Don’t Forget to Sell The Rip

As I sit here sifting through charts this evening, I see nothing I want to buy, nothing. The market is still in an overall bearish pattern and rips will continue to be sold.  Forget window dressing, as the quarter comes to an end, I think any and all strength will eventually be sold off this week.

Copper has lead the move lower and I will continue to monitor the commodity for clues on market direction. The Russell has also been a leading index, and has already broke the August lows, which may be something telling in of itself. Here is a current chart of the Russell 2000:

As you can see from the chart above, any strength here will give the bears a perfect opportunity to short into as many names retrace back to breakdown levels. I gave a list of short ideas Friday afternoon, and will continue to look to those names for possible trades.

My advice is to keep things light the first few days of the week and see what the market gives us. If we see strength, I think we have to look into selling the shit out of it.

Some Short ideas: SINA, BIDU, SOHU, FMCN, SFLY, ZAGG, FOSL, GLNG, TROW