Last week, the major U.S. indexes finished mixed. The NYSE composite gained 1.2%%, the S&P 500 added 0.3%, the Dow inched up 0.1%, and the NASDAQ dropped 1.3%. The IBD outlook remains at “market in correction”. Earnings season hasn’t gotten off to a good start. So far, there have been quite a few misses, particularly on the top line, and even the slightest miss or downbeat guidance is being taken out behind the woodshed and brutally beaten down. Right now, the safest place for Bulls to be is headed for the sideline. Until a new uptrend shows itself, keep your powder dry and your watch lists updated.
With the market in correction, none of the watch list stocks can be considered as buy candidates.
/as usual, your mileage may vary, always do your own homework
The following stocks currently exhibit potential technical characteristics consistent with historically successful shorting opportunities, emphasis on POTENTIAL:
INCORRECTLY SHORTING STOCKS CAN LEAD TO UNLIMITED LOSSES. Proceed at your own risk.
/How to Make Money Selling Stocks Short by William J. O’Neil