I just went back and looked at my last post. It was dated April 30. That's a long time for me NOT to be expressing myself. I've been trading some; small positions with tight stops and the only thing I know for certain is that my broker is making a bundle. But then they usually do in markets like the one we are experiencing now.
I'm still not going to "commit". Still don't feel right about the chop and uncertainty in the market. I'll wait until we get some sort of direction, up OR down. But if I was going to do anything??? Here's a few short setups for you to mull over.
$BRKS Gap at 10.50. If it doesn't hold should see 9.00.
$CAP Another gap that needs to hold. Break of 21.20 goes to 20. Needs volume.
$DHX Heading for long-term support at 13.10. If that goes ten 11.75, then 11. MACD/RSI ugly.
$HOGS Support failed on volume. MACD/RSI falling. Nuff said.
$MXWL Another failure of support to hold. High-volume breakdown with MACD/RSI falling. Not much to the left until 11.20.
$SPRD Needs to hold this support. Failure takes price to 14.60 then 11.50. MACD/RSI say more down.
These are just a few of the short setups that I'm watching. Shorting is always more risky than playing the long side. Either way, keep your stops tight and respect them. The trades don't last more than a day sometimes so be vigilant and trade smart.
Good week to you all. See you on the stream.
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