Friday, January 2, 2009

Potential Short Set Ups

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If you are interested here are just a handful I see; what I do with the blog is mostly just talk about half of my strategy: the long side. Much better than the index ETF shorts are finding individual stories with generally weak charts. I can't do it currently but these are typical set ups - I see about 25 other excellent candidates but here are sample charts giving you a nice entry in which you can exit with small losses if Kool Aid reigns on. Conversely, at that point you can turn around and go long most of these at the stop loss levels and put a new stop loss at the "red line" in each of these.

I like AXYS the best simply because you have 2 resistance levels (sort of like insurance) right next to each other that must be broken to turn from bear to bull. COF is beautiful from the point you have a series of lower highs...

Google (GOOG) - stop loss $331

Apple (AAPL) - stop loss $96 (however $85 looks like a good floor for this, if it breaks $85 its also an excellent short)

Axsys Technologies (AXYS) - stop loss $58



Exactech (EXAC) - stop loss $17.50

Ryland (RYL) - stop loss $18.50

Mastercard (MA) - stop loss $160

JCPenney (JCP) - stop loss $22

Capital One (COF) - stop loss $35

Goldman Sachs (GS) - stop loss $90 (north of $90 this would actually be an intriguing long as you have a series of higher lows since late Nov)

Any number of financials are also available which are doing not so much today - BAC, JPM, et al

In about a day or two the "worst of breed" which shorts are covering en masse today (many up 15%+) should be in excellent shorting positions.

No positions

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