The bears must be licking their chops with the Russell trading right at the 50 day MA. This gives them another opportunity to load up on shorts with a decent reference point.
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However, what the bears failed to do on Monday was make a lower low, still leaving room for the bull case.
I’m still treading very lightly with a heavy cash position. My current positions include: TZA (should have sold over 20), YELP (max stop 19), and ATPG, which is preforming nicely.
Still not much on my watchlist, but things are starting to shape up. A few more days of this and we should have some decent setups whether short or long.
Here are today’s hybrid movers, click here for charts.
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I hear ya on the $TZA at 20. Same thing here.
Seconded…
turn of month effect