I’m looking to get short Goldman Sachs Group, Inc. [[GS]] as it is breaking through a short term trendline.
What I would like to see: strength at the open, weakness, then short below today’s low @ $159.70. I will be adding it to the BTFD list.
Note: The market is at a critical point right here, should we bounce, I have no desire to short GS. However, should the market head back to the lows, I will bathe in put options.
Comments »Take a look at this barchart
Note: Finviz.com is quickly becoming one of my favorite places to visit.
Hat tip: Salsaman on WallStreak
Comments »In the group, I like Genco Shipping & Trading Limited Genco Shipping & Trading Limited [[GNK]] & DryShips Inc. [[DRYS]]
If DRYS gets over 79.45, I like it for a trade.
Comments »Looking at the [[SPY]] , which measures the S&P 500, we can see that we are still in this upward channel, However, should the trendline be broken, the market will buckle.
The question is, will we bounce? or breakdown?
If i had to put money on it, I would say we breakdown.
Comments »This morning strength can be found in a select group of stocks. Ag is one group that looks strong with Merrill out positive on Monsanto Company [[MON]] .
You can also find strength in the shippers, as Gio has been dead right on the turn of the group.
Solar stocks were ripping in premarket on the backs of Trina Solar Limited (ADR) [[TSL]] and could run all week depending on a few reports. According to iBC’s new software the top plays in solar are:
Energy names are also bouncing, but for how long? Many traders are waiting for a bounce in the group and have yet to really see one, will we finally get a bounce? Check out this chart by Stewie.
We are in the dog days of summer, trade well.
Note: Watch Synaptics, Incorporated [[SYNA]]
Comments »Usain Bolt broke the world record in the 100M. He is now:
“The fastest man in the world.”
[youtube:http://www.youtube.com/watch?v=bmjU_16BryM 450 300] Comments »
