No more waiting for the big bounce to set up shorts. This market is injured and for now I will be focusing on short plays and being nimble. The market looks like its going down. Read the Big Picture here for targets and thoughts.
Three new short opportunities have been added to the Trade Setups today. Keep a close watch on the action this week. The huge volume at the end of last week showed the big players are getting out and will be waiting for better prices down the road. We have been surprised in the past 6 months with miraculous saves so don’t let your guard down. Trade what you see and not what the news tells you is happening. At the end of the day on Friday it felt from the news that we were in crash mode all week when in reality the DOW ended up only down 100 for the week.Yes, only -100.
NOTE: I mentioned in the past how powerful Andrew’s Pitchforks can be in technical analysis. George Zimmerman one of the experts in using the forks will be giving a free class on how to use them in his Paltalk room after the market closes on Wednesday. Here is a link to a video that provides more detail.
Good luck with your trades.
DSW short under 23.80
JCG Short under 38.30
AMSC short under 37.50