FLT (11/25/12, +36.03%)
OCN (1/27/13, +7.31%)
MPC (2/3/13, +11.55%)
MX (2/10/13, -1.02%)
WDR (2/3/13, +1.74%)
PIR (12/30/12, +15.35%)
JAH (2/3/13, +3.37%)
HCA (2/10/13, -0.70%)
CVI (2/17/13, +3.15%)
BLK (2/3/13, -0.03%)
PKG (2/10/13, +3.66%)
AMCX (2/17/13, -4.51%)
Last week the major U.S. indexes finished mixed again. The NASDAQ gained 0.3%, the S&P 500 added 0.2%, the Dow ended flat, and the NYSE composite ticked down 0.2%. Last Monday’s negative action on volume finally broke the back of the uptrend and the IBD outlook rolled over to “market in correction”. Although the correction hasn’t been severe so far, it IS a correction, don’t try and second guess the call. Even though there were some up days last week, they came on lower volume and the declines were on higher volume, exactly the opposite action for the Bull case. Use any rally days to cast off your poor performers and be sure and lock in any gains on your winners before they turn into losses. Until the next follow through day occurs, signaling a new uptrend, raising cash is a wise strategy.
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