Addendum to Monday’s Stalk Sheet:
Over the weekend, we had a chance to do some review and came up with some additional ideas for Monday’s Stalk Sheet:
We anticipate the Oils and Oil Service will rally on Monday. However, it looks like Retail, Semis, and Biotechs are all poised to go lower. The Dow Jones is also something we will keep an eye on for a potential short, as we would look to short DIA or sell calls on the DJX. We will look to short once the Dow loses 10,563.
The Heatlhcare Sector (HWX) is looking incredibly bearish on a daily chart. Check out these three stocks for potential shorts, as we will likely be entering one of them on Monday: THC, BAX, HCA
In the Networking Sector, once JNPR trades down to 28, we plan on accumulating a short position. We want to try to get short before it breaks last weeks’ low of $27.86. We don’t want to be in this stock short unless the NWX is weak and the entire market is weak. Once it breaks $27.86, we feel it will drop 5 – 10 points. Our sector squadron members tell us that Juniper’s miss announcement (June 8) is a big deal and there is likely to be distribution in this stock, taking it below $20. However, JNPR is very volatile, so use stops and don’t try to make it all at once, even if you are confident in a big move.
Trade Well!
Deron, Ed, and Steve
General Partners
intradayinvestments.com |
