More Breakdowns, But Market Will Bounce, Then…
The market had a major break today. Some things broke while other things are close. I’m looking for a bounce next week and will look for shorting opportunities after that.
Still waiting on the telecom bounce in VZ, T, MOT.
Charts show a few trades I made today. Some winners, some losers. Not bad for a day like today. I haven’t been thinking short, but I’m starting to now.
Two trades I went long in for next week are ANN and JCG. Both retail names. Both of these stocks tend to move larger than average. I want stress that these are oversold plays and I’m playing for a small bounce. I have no grand illusions that these will now skyrocket up 100% from here in a brand new up trend. They are technical trades.
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