LMCA (11/12/12, +0.00%)
TFM (9/23/12, +1.19%)
Last week, all the major U.S. indexes cratered. The NASDAQ dropped 2.6%, the S&P 500 slid 2.4%, the NYSE composite fell 2.2%, and the Dow shed 2.1%. The IBD outlook remains at “market in correction”. The day after the election, investors, institutional and otherwise, voted with their feet and headed for the exits. Although there was a slight whiff of political compromise in the air, that quickly dissipated on Friday when president Obama took to the TV and reiterated his stubborn obsession with raising taxes on “the rich”. So, until someone blinks, if that’s going to happen, the looming “fiscal cliff” and “Taxmageddon” will continue to be the prevailing market headwinds and the most likely forecast is for severe ugliness with plenty of turbulence. The safest place to be right now is in cash.
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