It was an extremely ugly day across the board in the markets with all of the major indexes closing down 3%+ on the day on high relative volume. All of the gains from the "China truce" gap up yesterday was erased and then some. This sort of price action screams bear market to me as pretty much every stock from every sector was taken to the cleaners with nearly 1,000 stocks closing down 4%+ today but less than 30 managing to close up 4%+! Given this, I'm anticipating at least a re-test of the October low and possibly even a test of the low set in April this year in the $SPY before the end of 2019.
That being said, here are my best ideas for Thursday, not surprisingly all shorts!
 |
Has room all the way to $55 should the markets keep selling off.
|
 |
| $EA and sister stock $ATVI has been getting hammered of late. Had it on watch this morning and turned out to be an excellent short today. I expect more down side especially if it can crack $80 |
 |
This stock could trade as low as $15 by week's end
|
 |
$30 will be the key in this stock. Cracks this level and it could drop down to $27/$26
|
 |
One of several retailers with almost identical pattern. Big gap down on earnings and bear flag. Has room to the Nov low around $48.
|
 |
Same idea as $JWN. Has room down to the low $60's.
|
 |
Will be looking for a move down to $66ish.
|
 |
| Yet another earnings bear flag. Has room to $65ish. |
No comments:
Post a Comment