Today’s late day surge in the general market indexes put every single short in my scan in a position that none can be taken as longs since the trip back up was hard and fast leaving a lot of “bullish” (short-term only) tails preventing me from taking any of these shorts. Not only that but most of these are too far away from their 200 day moving average to be non-risky shorts. If the stock and the 50 day moving average on some of these stocks can turn up for a while on low volume the next breakdown would be a great short to take. “Those stocks” are AFG, MLM, JBHT, TRMK, CLC, NSC, BNI, ONB, SOHU, and ALGT. If you are still not sure what I am looking for the best thing to do is look at the shorts we have right now that are up a lot and look at how they looked when we first went short. If you don’t know how to do that, I will tell you. We have a search engine on the .com and .net site in the upper right corner. Type in the symbol and go look. Later on, when this bear is over (if it ever ends), I will start posting the shorts with 50%+ returns during this bear. Right now, I am still short all my big winners.
new short positions: none
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