I'm in such a chipper mood, I think I'll just put up a music video for now. This is one of the coolest music videos made, and it's the kind of quirky song I really enjoy. I've shown this before, but the quality on this one is much higher. I'll be back later this afternoon with something unrelated to tooth extraction.
Slope of Hope Blog Posts
Slope initially began as a blog, so this is where most of the website’s content resides. Here we have tens of thousands of posts dating back over a decade. These are listed in reverse chronological order. Click on any category icon below to see posts tagged with that particular subject, or click on a word in the category cloud on the right side of the screen for more specific choices.
46 Short Setups with Stop-Losses (By Ryan Mallory)
As I try to do every week, below you will find my current watch-list
for short setups. I keep a Long Setup Watch List (which I will be
posting tomorrow night) and a Short Setup Watch List, which you will
find below, at all times to provide me with the flexibility to
"flip-the-switch" should the market make a definitive change in
direction that causes me to change my outlook of the broader market.
Below you will find 46 trade setups, which is 30 more than what I posted
last time. Most of these stocks are ready to be shorted, which means
the risk-reward is favorable and the stocks have clear technical price
patterns that a breakdown is underway in the stock.
I actually shorted one of the stocks on the list below – (ABMD) at
9.66 today, and has done quite well for me as it closed the day at 9.22.
It reports earnings tomorrow, which I am not overly crazy about, but I
do have some cushion, in the form of profits to play with, should the
earnings send this stock higher.
Other stocks on this list that I currently am shorting include BEZ,
SYK and NATI.
One stock that I really like more than any other tomorrow is EGOV.
I've posted the stop-loss next to each symbol to help you with the
risk management side of the trade.
Enjoy!
Here's My Current Short Watch-List.
Universal Travel Group (UTA) – 9.57
United Therapeutics (UTHR) –
57.90
Superior Well Services (SWSI) – 16.17
ASML Hldgs (ASML) –
33.01
Alcoa (AA) – 13.93
Jabil Circuit (JBL) – 16.45
Scholastic
Corp (SCHL) – 29.13
Netease.com (NTES) – 36.41
Teletech (TTEC) –
17.10
Goldman Craps (GS) – 157.25
Autoliv (ALV) – 55.30
Baldor Electric (BEZ) – 40.15
Emerson
Electric (EMR) – 53.90
Live Nation Entertainment (LYV) – 15.99
National
Cinemedia (NCMI) – 21.07
Nu Skin Enterprises (NUS) – 32.55
Stryker
(SYK) – 60.50
Torchmark (TMK) – 56.92
National Instruments (NATI)
– 35.21
Proctor Gamble (PG) – 65.40
Compass Minerals
International (CMP) – 81.45
Automatic Data Processing (ADP) – 45.90
Solera
Holdings (SLH) – 40.63
Companhia Paranaense (ELP) – 21.45
Penn Va
Resource Partners (PVR) – 25.70
HOLDRS Pharaceutical (PPH) – 65.75
iShares
S&P Global Infrastructure (IGF) – 34.33
SPDRs Consumer Staples
(XLP) – 28.31
Nic Inc (EGOV) – 7.56
Ebix (EBIX) – 17.50
US
Airways Group (LCC) – 7.82
American Tower (AMT) – 43.50
Mastec
(MTZ) – 13.35
Conagra Foods (CAG) – 25.51
Exelixis (EXEL) – 6.67
Healthcare
Services Group (HCSG) – 22.90
Nuvasive (NUVA) – 45.10
Varian
Medical Systems (VAR) – 59.82
Cameco (CCJ) – 26.65
Abiomed (ABMD) –
10.15
Accenture (ACN) – 44.79
Plains All Amer Pipeline (PAA) –
58.50
MetLife (MET.B) – 24.33
American Public Education (APEI) –
47.95
Buckeye Partners (BPL) – 64.90
Boardwalk Pipeline Partners
(BWP) – 30.15
When Will Aggressive Shorting Make Sense Again?
My opinion: when XLF gets back up to about 15.76
My Day Thus Far
I've spent most of the day doing two things:
(1) Taking profits by covering many shorts;
(2) Tightening up stops
I've reduced my exposure from about 200 positions to a mere (!) 134. I've changed my "bull/bear" ratio from -1 (pure shorts) to -0.36591 (some longs – – a +1 would be purely bullish).
My biggest long is FXE; I think the Euro's in for a bounce. I've also bought USO and TBT.
I've also reduced my overall portfolio commitment from 150% of cash to 83%.
In short, I've pulled back on the reigns and am going to wait for better prices to get aggressive on the short side again.
Blood in the Water or Getting Greedy?
Hope you are all enjoying the fireworks. I'm here to throw some cold water on that.
We broke the descending trendline in December of 2009 on the 10 Year Treasury Note and now we are finally testing that trendline. We are also closing a gap from 6 months ago. At these yields, investors may start to rotate out of government-backed fixed income securities and back into risky assets. A look at the $SPXEW is proof that zero technical damage has been done to the broad market.
Clearly there are concerns with international markets…. but please, take a look at the McClellan Oscillator and the Put/Call ratio – then tell me with a straight face we're not due for any kind of mean reversion. It looks like the money that went into gold is going to look for a new home while it consolidates. Where do you think it's going to go? Ultra-bearish ETFs or buying equities on weakness to resume the cyclical bull?
Risk management is the name of the game.
