Here are some actionable short ideas on this list, especially if the market follow-through lower with tonight’s futures.

Courtesy of The PPT algorithm, here are some very aggressive ideas for short trades headed into Tuesday. If you are not comfortable shorting (especially in a bull market), there is nothing wrong with taking a pass. Keep those cover-stops in place.

Nonetheless, a good chunk of readers are always looking for short ideas.

Members of The PPT can click here to view and save this “Titanic” Screen, as I named it when I created it a few years back. The screen isolates stocks vulnerable to further weakness.

I have given long ideas in my video recaps and prior posts, and here are some short ones.

Please click on image to enlarge 

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Futures are getting hit tonight, as you can see below courtesy of Bloomberg.

However, we saw this script throughout 2013, and bulls never seemed fazed. The pertinent issue, of course, is whether a true correction ensues. We know that retail stocks have been getting whacked by consumer standouts like COST SBUX also start to suffer some profit-taking after monstrous multi-quarter performances.

I am still short WYNN, looking for more downside there as other consumer-related names presumably will get hit as well.

On the long side, keep an eye on semiconductor stocks: KLAC LRCX ONNN for further strength out of intriguing technical daily chart setups.

Drop me your top tickers overnight.

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eBay reports after the bell, in addition to Netflix, and it will be interesting to see if we finally see resolution from the very well-defined sideways channel on the weekly chart, below.

As you can see, the stalemate has stretched back to the end of 2012, where vocal eBay bulls have been quieted and bears seeking a major breakdown have been shunned.

Elsewhere, fast food plays BKW WEN are acting well, while COST continues to slip under $115.

Stay tuned for my video market recap after the bell.

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The averages are basically flatlining this afternoon with mixed action underneath. IBM is weighing on the Dow, while Apple makes a go of it to try to attack $560. BBRY and TTWO are squeezing violently to the upside, while Netflix reports after the bell.

Silver is at such a critical level on the monthly timeframe, seen below. $18.80-$19 marked the primary breakout level from Labor Day 2010. It simply must hold now for bulls to stage an upside rally and follow the precious metals miners higher.

Over the past several quarters, you can see buyers attempting to stabilize price at this key level. They have been able to stem the tide of selling. However, now they must seize the initiative fully and rally us sharply.

What are you trading this afternoon?

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I locked in part of my win in UGAZ just now, a quick jump from yesterday’s entry.

In electing to take some off the table, I think it is worth pointing out a broader concept than any individual trade.

Specifically, the straight-up ETF for natty gas, UNG (first below) hit its upper daily chart Bollinger Band today.

Bollinger Bands are useful secondary technical indicators for measuring, among other things, relative tops and relative bottoms.

Here, the straight-up ETF hit its upper Bollinger Band (signaling relative overbought conditions), while my triple-levered long UGAZ has not yet hit its upper Band.

Despite the fact my money is in UGAZ, I suggest technically keying off the straight-up ETF for clues. In this case, UNG is punching its upper Band, and I am going to respect that by taking partial profits.

The highly levered ETF’s are merely vehicles to express your thesis based upon the technicals of the straight-up ETF (and futures contracts, to be even more to the point). But they are just that–Trading vehicles, and nothing more.

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Courtesy of The PPT algorithm, here are the most current top five readings from my “12631 RELATIVE STRENGTH” custom-made screen, identifying which stocks are exuding some of the best performances to the market at-large at any given moment.

I look for stocks whose Daily PPT Hybrid Score surges, while the Weekly Hybrid has been negative over the past week. This can often yield stocks which are emerging from consolidations.

Members can click here to view and save the screen.

Sorted for at least 500,000 shares of daily average volume to ensure liquidity.

Please click on image to enlarge.

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