and with it short covering which is helping to propel markets to new highs will be gone too. All or most of latest short ideas are still short - just at the better entry prices.
Here what I think might be most promising trades:
shorts:
TEX - right where it is - if higher - even better
SHLD - same
RATE - somewhere at 27-28 depending on how it'll go ( don't worry about high short interest - none is going to cover anytime soon :) )
long:
COLY 11.20 - 11.40 stop 11.08
ILSE 19.30 - 19.60 stop 19.05
SFUN 28.55 - 29.10 stop 28.09
Commenting on PCTI action today - at the time when it was shaken down SemiHolders sold off quite hard, still long at 10.30-10.50 with stop at 10.11
"I make rules - I brake rules" - here what I traded/trade ( As I explained before - I dislike to open my cards in order not to affect anyones decisions )
SLXA profiled on Sep 20th, pick of BullTrapper of Trade Guild investment blog, put up quite a performance lately, bounced off $8 area - nice going BullTrapper!
I picked it up on Sep 22nd at 7.90 ( as I say in my trading rules - I don't chase stocks - "Money not made better then money lost") and closed today at 8.66 missing extra .30 pop - did so due to anticipation of coming market selloff, I'm about 70% short now
RIO short, pick of BullTrapper of Trade Guild investment blog opened short position at 21.06, with soft stop right above 22
APOG - closed position on pop at 15.94, might re-enter long pos. at 15.35 +/-
VRTX - covered, institutional defence is not done pumping this one
GRMN - quite a pop, good short opp., if tomorrow morning goes up - 48.50-49 would a perfect entry for short position, with stop at about 50.28
SUF looks like it is recovering - this is high risk/high reward long trade.
NXG - went up with minning stocks, I think GLD will continue go up for few days at least.
others candidates of interest:
long BUF DUSA GAP IMGN JRT PFWD
short: CCU RS TIE SNX ZOLT and last, but not least - FMCN looks like this time it IS breaking down
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