(8:15AM New York time)
Looks like were in for a big shakeout today. European futures down in the morning only to reverse to the high of day. I think the US markets will do the same. If this happens I may cover my SP500 short position, if not it will be time to readjust stops.
Additions to watch-list:
ISRG, AMZN.
Note: Both down -%7 pre-market, we'll see how this pans out on the market open and act accordingly.
If I short the above they will be light, with tight stops as I'm expecting a shakeout/capitulation day. Additionally, they both have relatively high short ratio's so I really want to see some heavy breakdowns before shorting.
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1 comments:
I still see that the dumb retail crowd believes stocks are coming back. They must be hopeful, because they are losing money. They sound just like they did in 2000 market. They are not telling others to dump like around the 2002 lows.
I am shorting the low volume rallies. I don't see a bottom happening any time soon with the lack of hot charts in new bullish sectors.
This is ugly and any rally should be sold.
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