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Nani |
| Thursday, August 10, 2006, 11:16:16pm |
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Maui and others, thanks for posting todays shorts picks. Below is some I came up with. They are based on price falling on high volume at key technical support levels (50DMA, 200 DMA). I also looked up IBD stock checkup.
WRLD, UHAL, ANGO, CBD, DTG
BTW, thanks for your advise on TOL yday.
Regards |
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MauiTrader |
| Thursday, August 10, 2006, 11:29:46pm |
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WRLD: Not yet. Needs to have a couple of rallies then fail to be a good short. UHAL: Too risky -- 18% risk. Not worth the reward. ANGO: Too risky again -- 16% risk. CBD: Check my blog.  Always read my blog, after I update it. DTG: Good short candidate but it is a bit extended from the moving averages in the pattern and is suspect to a pullback. I would pass on this one. You are very welcome, Nani. Great luck!! |
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mac |
| Friday, August 11, 2006, 11:45:15am |
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Hey, Josh, I'm looking at BAS and FMD today, assuming they both finish negative today. Big volume so far on each, and both bouncing down from their 50 day MA. |
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mac |
| Friday, August 11, 2006, 12:23:33pm |
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Some steel stocks look weak today and like they're breaking down but volume isn't overwhelming to the downside. |
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MauiTrader |
| Friday, August 11, 2006, 1:04:19pm |
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Both would be great shorts if they can close weak. You need that last hour selling. Any sign of support makes them a riskier short.
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MauiTrader |
| Friday, August 11, 2006, 2:04:01pm |
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Interesting possible shorts after today's action, so far: EL FMD BKUNA (third time should be the charm) |
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ORKiter |
| Friday, August 11, 2006, 2:16:17pm |
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UARM another great example of why sell discipline important and all about price/volume(huge volume reversal was at new hi's was sell and then break of 50dma was complete sale)- just keeps deteriorating on avg volume but down is down |
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MauiTrader |
| Friday, August 11, 2006, 2:18:58pm |
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Remember when I posted in here that only people who read would see me get to go short UARM. Since then it is up 11% on my short....uhm, too bad I never took that trade. No shares to borrow, at the time, on all of my platforms. |
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ORKiter |
| Friday, August 11, 2006, 2:28:47pm |
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CAT - bye bye 200dma breaking clean support, looks like its finally really to rollover...i'm adding to my CAT short on monday depending on where mkt is at on monday |
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MauiTrader |
| Saturday, August 12, 2006, 2:45:08pm |
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I have shorted BKUNA twice and have had my cut loss hit twice. Now it REALLY breaks down but it has already fallen 11% in three days and now looks too obvious and risky.
If this can rally at all near the 50 dma, I am going to revenge short this one. UGLY UGLY chart. |
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mac |
| Monday, August 14, 2006, 8:59:45am |
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MSTR looks like an O'Neill short here - breaking through 50 day MA after testing it for the third time. Volume is already 1/4 of its average daily volume.
GLG is also a possibility if gold goes down here - gotta see volume come into it here though. |
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ORKiter |
| Monday, August 14, 2006, 10:27:17am |
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MSTR pattern does look nice for short but volume looks all wrong w/ lots of above avg accumulation (but also above avg selling) so its tough to make a call eaither way. same w/ the weekly the last 5-6 weeks have been split between pos. and neg. weeks........trend is down but i guess i wouldnt feel comfortable that its ready to break with the way crazy volume patterns (i mean those are some pretty big accumulation days, someone is buying it)
yeah gold stocks are interesting - NEM breaking today again....i got shaken out of HMY on the recent rally and sucks seeing it break down right after i covered. oh well |
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mac |
| Monday, August 14, 2006, 11:10:23am |
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I agree that volume is not exactly the perfect pattern in MSTR - you would like to see less blue volume bars in the short, but I will watch the volume today to see how it finishes. That 7/28 looks like it was pretty crazy. If the market finishes strong but MSTR can't bounce off of its lows for the day, maybe that will be a confirming signal. We'll see.
Looking at gold now, I don't know if the volume is there today on the downside. Guess we will have to keep waiting. |
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MauiTrader |
| Monday, August 14, 2006, 1:15:10pm |
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I agree with ORKiter's analysis on MSTR. I do think this short will work out, looking at the overall pattern.
I still don't think it is time to short gold stocks yet. You can tell by looking at GLG chart that it wants to rollover but it might not be ready yet. Best to wait for the volume to come in. |
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mac |
| Monday, August 14, 2006, 1:55:06pm |
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Oil looks weak today - What about BRY as a possible short? With an hour left, volume looks like it will come in above-average, though probably not huge. Just like the gold stocks, so many of these oil stocks look like they want to break but haven't quite yet. Some did last week - GSF, DO, RIG. |
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