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Pre-market futures are showing another negative open, which isn't surprising since we broke through a key support level that had held strong the previous two-months. So a lot of people who bought into the hype that the 8300ish level was the bottom of the market's steep decline will likely be looking for a way out of their ill-advised gamble. We're primarily shorting this market still, while taking some long positions in ETF's (another post on that to come). In the spirit of Thanksgiving, we've decided to provide everyone with a short chart setup. We will be making this a pick to our subscribers, in which they will be provided with a stop-loss, target price, and entry price among other things. For the non-subscribers....well, I'll just leave you with the chart...and some thoughts. LMNX is setting up nicely for the next leg down. For the most part it has had a rather descent year, but that "V-Spike" off of its October lows are unsustainable, and the price action just broke the 50 and 200 day moving average in one day - not to mention that the averages are about to cross over. So you have a lot of bearish technicals in play here (along with it being ridiculously overbought). So there is your short for today. If you want access to all of our picks everyday then you better subscribe. Here's the chart on LMNX... |
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Negative bias once again heading into the open. Intel has created some more problems for the market by slashing its outlook in its earnings report yesterday. So the Nasdaq is leading the charge downward this morning. We are undoubtedly at a "make-or-break" point for the market today: if it holds its lows, we could see a rally of sorts from the current levels, but if we break the all-important October Lows, then we will likely see another sharp leg downward. The main catalyst for the market today will be the jobs report coming out at 8:30am EST. Today's short ALTH is being propped up by the 50- and 200-day moving averages. A break of the 200 could easily send this stock down to the low 6's. But we urge caution at these levels in the market, since there is a possibility that we see a sizable bounce at the current price levels in the general markets - and you never want to be on the opposite side of the market. Here's the ALTH chart... |
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Pre-market futures are showing a slight positive bias heading into the open. Asian markets were down a little over 1% while the European markets have rallied off their lows to where they are looking at 1% gains. Its a mixed market at this point. Nonetheless here are a few charts worth looking at to consider shorting.. Here's the charts... |
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Here's a few shorts worth considering. Now that the market appears to be back in touch with reality, these guys should be enough to jump-start your day. But as for our trading parameters (i.e. stop-loss, entry-price and target price) among other things, you are just going to have to subscribe to find out! Here's the Short Charts... |
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UFI has been one of this month's favorites for tracking and trading. Our first trade on UFI yielded us a little over 14% within a two-day period (10/8 - 10/9). We're putting this pick out to our subscribers today, with parameters (i.e. stop-loss, entry, target) that we are using to trade, along with some other caveats. This stock just reported an earnings that didn't go over all that well with analysts and since hitting a 52-week high, bearish volume has been on the rise. The 50-day average has provided this stock with a fair amount of support as of late, but a break of that price level should allow for us to see increased selling pressures. Trade with us on everyone of our picks by Subscribing Today! 
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