I've been wrong enough to know that I'm not going to start cheering on a bear market. The market was down today. I'm glad. Maybe it'll be down a lot more this week. Which will make me happier still. But until we have a no-doubt-about-it rupture in the uptrend, I'm keeping my furry mouth shut.
The $VIX may have formed a "V" bottom with recent activity, which would obviously be good for both put holders (me) and bears (me again).
I've mentioned AMLN a bunch recently, and it continues to behave like a good little stock (on the short side).
I take pride in being such a pure technician that I know only the ticker symbol - - I don't know the company's name, and I certainly don't know what it does. The symbol is AXR. I shorted it Friday. And today it lost double-digits of points. Nice.
I got burned a couple of weeks back buying puts on superstock AutoZone (AZO). I'm ready for more punishment.
Cigna is a much less volatile stock, but I see a double top here and a stairstep down these Fibonacci levels forthcoming.
Shoe god Nike is another security on which I own puts. It took a nice little stumble today, but I have much bigger ambitions on this one.
I haven't touched NutriSystem in ages, but I'm ready to go back into the water. There's a small head and shoulders pattern here, and this is the kind of fad stock that can succumb to gravity.
RAI is a good short in the world of metals.
...as is RTI......
Sears Holding (SHLD) is another item I've avoided, only because it has the makings of such a sensational cup with handle pattern. But this pattern is starting to look shaky, so I'm OK putting some risk capital into some puts on this one.
Lastly, a bit from one of my favorite cartoons - Aqua Teen Hunger Force. This one is only a little offensive, so you are probably safe clicking the Play button, no matter how far away you live from the coasts of this great nation.
