Trying to get back in to the swing of things (pardon the pun) after being away can often be challenging. Trying to find a place to start seems to be the crucial first step as you “climb back in the saddle”.
As I worked myself back into my routine, I elected to take a simplistic approach this time around: I started with no stalk list, a clean slate. I ran my normal scans with a focus on finding pullback and short plays. What I found was an elevated number of weakening stocks that simply look real vulnerable.
After reviewing roughly 150 charts last night, It seems like a lot of opportunities reside in the downward direction on many of the stocks I follow. As we near the close of trading today, I find that the vase majority of stocks on my main stalk lists are in fact RED, with several having significant down days.
The only exception to my short bias at the moment is in monitoring several stocks like CRUS, FNSR, & JDSU as bounce plays.
I am in no way calling a top here as that is not my style, but I will take what the market gives me. And right now it tells me to get shorty.