As I noted in an earlier post, my wife’s business has been going through the roof. November sales have surpassed our wildest dreams, no hyperbole. So I’ve been a good sweat shop slave and have stayed fully engaged in nightly production efforts. Knowing this, I hope you’ll excuse me not waxing poetic on the current orderly consolidation the market has experienced over the last few days. Just know this: An orderly consolidation after a swift rocket ship up can mean the continuance of the rocket ship. I’m not ready to go full-tilt bullish, but I’m fully entertaining the possibility that a serious pullback of 2-4% may not occur until the market moves up more.
Still, one cannot be too prepared for more downside. With that being said, here are a couple of candidates for some swing shorts.
Or, you could ignore all my equivocations and just short $SPY, which still “looks” ripe for a swing short. There are a lot of technical reasons for people to sell, assuming they still follow the technicals.
Either we go up, or down. We will learn much from either move. I am positioned for a move lower.
I am curious. What business is your wife in? Please give me her web site address as I am Christmas shopping! Thanks, Susan