JRI,
<< Waiting for the capitulation...trying to make some cash in the meantime.. >>
You and I are on the same wavelength there. I'm also looking mostly for shorts, and reluctant to hold overnight too many positions.
VRTS: I'm a little disturbed by Friday's candle, and the volume on the last two trading days:
askresearch.com
VRTS had started a nice, orderly sawtooth downtrend, forming two lower highs and three lower lows since the topping formation broke down the week of November 6. But, Friday's candle successfully tested previously established resistance at the last peak, at about 108. Technicals show nothing but buy signals, though the intraday suggests technical weakening:
askresearch.com
IMHO, this one is a watch, unless and until it trades below 101 1/2, on good volume. If it does so, I think you will see clear deterioration in the chart/technicals.
SEBL: Probably a good short, with a conservative entry if it trades below 71. Best case scenario would be if the stock gapped up on Monday, ran hard out of the gate for 5 or 10 minutes, then began to sell off hard. As soon as technical sell signals appeared, that would be the entry IMHO, with a stop above the HOD.
askresearch.com
askresearch.com
IWOV: The best short of the three, IMHO. Very bearish candle formed on Friday, strongly suggesting downside reversal despite the technical buy signals:
askresearch.com
askresearch.com
JMVHO, as always..........
Walkingshadow |
