I am shocked that there were so many stocks in the short scans for such a strong day. I guess the weak close on the intraday basis was the culprit for such activity. The best part about the shorts that did show up is that some of these candidates have been in the scan before. So trends are working up and down…until they violently stop. If you go through my shorts that I am watching to possible short in the future you will see that most of these are ending their uptrends in very violent reversals. This is the reason I am not fully positioned to the long side. If I had longer bases, nicer charts, and a more orderly (not going straight up) market, I probably would have some “hot/perfect” charts and would be fully long by now. The fact that my best so far is RINO is not that impressive. Some shorts to keep your eye on for possible future shorts or maybe even for a short idea now include TMX, AKAM, WSH, BDX, JACK, AMAG, DRIV, VAR, OCR, SEE, WMI, TLEO, CTV, ITRI, SYNA, RS, GVA, MCO, HSC, and LEAP.
new short position: STJ
STJ is failing right at the 50 day moving average, putting in a very bearish intraday session, closing near the LOD, on very strong volume with BOP remaining red after hitting red BOP yesterday. Cut your loss with a close above the 50 day moving average, if the stock does not move lower immediately.
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