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Top Ten Short Setups

I am not yet officially bearish, but I am near to it. Neither breadth nor volume is confirming this latest rally, and while we could certainly see new highs, any stalling or consolidation is likely to lead to a small to moderate correction. Most traders are sitting on decent profits for the year, seasonality is looming large, and I get the sense that there is a skittishness developing. Failure to make definitive new highs I believe will push skittish traders into the fearful category.

All that being said, it is nice to have a quiver of setups in a confirmed downtrend to jump on when the time is right. I have linked each symbol for ease of analysis.













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Top 5 Short Setups for Wednesday

If you are following the Fecal Cliff debacle, you are likely aware that the Senate version has been sent to the House but the House may not pass it. If you are not following the Fecal Cliff debacle, good. It is a disheartening display of how awful our government is.

Anyway, should we continue to slide down this cliff, I expect that the opening day of 2013 will not be pretty. It might be handy to have some stocks in mind that recently surged but are in long-term downtrends.

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Top Short Setups

I would rather be seeing several new High Tight Flags. There is still only one: HGSH. Until we see more HTFs, we will look at shorts.

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2 Short Setups

I’m still not ready to go full-tilt bullish. With $SPY putting in two back-to-back doji days just beneath the 50 day average, I think there is room here for some downside. With that in mind, here are two stocks that have been in a downtrend but have recently surged, are sitting beneath resistance, and might provide some downside action should the market pullback.

Have a great week trading!

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Top Short Setups

I may be a day or so early with these. Trading just before the employment report is released (Friday) is always a gamble. If I had to guess, I would guess that a large gap up today will be sold.

No time for anything but symbols today…







Have a great day!

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