Ok, the market is currently in a downtrend and is still show very weak leadership with the fundamental leaders. Also with all the low volume stocks getting volatile (USEG GOAM SILCF UFPT PACT PTEC) it is obvious we are not in a great place as history show this always happen during a correction. With few stocks like ANTP PRM APCC AFFX SYNC currently looking OK it isnt really a great market for longs yet. Even though a short term bounce is probably coming since all ob/os indexes are oversold. So lets look at some shorts. I still think BRY is a short at its 50 dma with those two heavy breakdowns this month. Also I am still short XOM from that 11 and 14 million block sell by Merril Lynch on the 9th. Some good looking shorts after Monday's close were: if KEG returns to the 12 area a short looks good there with its continuos breakdown this month, a rally by PH to the 65 area is another short into resistance with it trading below its 50/200 dma and both turning down, going along with all my other oil shorts PTF joins the list on its second huge volume breakdown this month. These huge volume moves along with the early 2004 distributions and October heavy volume short term top makes me convinced any rally on this stock makes an excellent short. Moneystream on TC2000 is also hitting new lows while price is nowhere near. Very negative divergence.
Today I covered my XPRSA short for 25% gain.
I had to cut losses (all or partial) in PTEC PACT GOAM
BTW, I will never disclose all my sales. Soon enough you will see on the chart when I sell and why.
ALOHA
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