Sorry, I was away for a bit....
Actually, I would be cautious here.....Naz has gone almost straight down over the past day....A few signal charts are calling for a turn today......I think I would wait (I am) for these stocks that have gotten hammered....to pop up a few points....before diving back in...
For example, CHKP got down to 38 last week......I shorted when it got back to 46.5 and 48.5....it actually went further to 50, but I didn't cover, because I knew the thing had to crack at some point...of course, it finally did, and I've covered now........point being: I waited until it popped 8-10 pts from low, before dinging it....
I wouldn't get too greedy here....I may even wait until Wednesday/Thursday or Friday to re-enter shorts....unless the bounce just totally weakens across the board.....but that's just me....good luck....get lots of opinions..
BTW- I think the safest play here is Dow/SnP...even if it pops up 200-300 pts from here, IMO, there is no way the Dow isn't going to AT LEAST retest 9100...and likely is going to 8000s or 7000s.....not there for a huge pop, but a safe play, iMO |
