Despite the weakness in today’s session, volume was still below average, and thus there were not a lot of stocks to look at in the short scans. Of the stocks in the scan nothing is near the old 52-week highs making them great shorts. The few stocks that did show up in the scans have a lot more work to do (low volume rallies to the 200 day moving averages) before they can even be considered a good short. Stocks like LMT, CBY, LNT, NCI, and SIVB were all nice for future shorts but they all need to rally to the most far away 50 or 200 day moving averages before they can become shorts. The one stock my eye is on the most is STRA. STRA was up again today (good thing we cut our loss) and still has very red BOP and is rallying on low volume. So I am going to wait for the next breakdown through those key moving averages and the next time I will try to get more heavily short. The bad news about this stock is that I did not find any in a couple of brokers that I use so it might be tough. Hopefully more shorts can setup as this low volume attempted rally goes on. Being short is obviously right because even after getting a major cover signal in ATHR, the very next day it collapses again. This is indeed a market in a lot of trouble. The right side is still the short side if your time frame is over a day.
new short positions: none
none
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