Just a few thoughts, now that I've gone through all contents of my Bear Pen watch list.
+ I am very lightly committed – 20% in positions, all of them short, and 80% in cash. I am concerned there might not be a heck of a lot of blood left to squeeze out of the current drop, and, let's face it, nobody knows what kind of insanity might happen over the weekend (either good or bad).
+ I do, in fact, see dozens of fantastic, tantalizing, gorgeous bounce plays, but the thing is that these very oversold stocks could simply get more oversold. Still, I might enter some of them to balance things out, because if the market gets any strength, these could go up 10%, 20%, or more in just a couple of days.
+ There are some stocks, such as Devry (symbol DV, shown below) that could either go up a lot or down a lot. How's that for a Captain Obvious analysis? What I mean is that, if they break, they could go into full-blown crash mode, whereas if they simply want to recover from the low end of a range, they could rally for weeks. So I'm feeling somewhat stuck right now, since there are dozens of stocks that look just like this.
