Sigh. This market just can’t get any traction. No, let me correct that. It can’t get any downside traction. Every time I think that, at long, long last, we’re going to start going lower – – it’s over within a day. It’s disheartening, to say the least.
The past couple of days, of course, are what I’m referring to, since he had a nice beefy tumble on Tuesday……..and some great follow-through for a few hours (on the NASDAQ, at least) late Tuesday night. By end of day Wednesday, however, it was all over. Just LOOK at this madness!
In spite of this, there are still some good short setups which continue to do well, even in this completely stupid market. Let’s thumb through nine of them, all of which I am short. First, there is Advance Auto Parts, which is in two of my favorite bearish sectors – retail and auto-related.
Next up is another retail (which I notice is getting hit after hours), Burlington Stores. By the way, you can click on any of these SlopeCharts to see a bigger version.
Ah, yes, another auto-related retailer………AutoZone:
I had been short Chicago Bridge a while ago, and I covered at a good price. I was prepared to wait a long while for another entry, but Tuesday’s 30% pop in the stock made it easier. I shorted it Wednesday as it was enjoying another rally.
Yet another retailer, Dillard’s………
OK, yeah, we’ve got a theme here…………Dollar Tree………
It’s dawning on me how almost all of these are stores! Anyway, Finish Line…….
Errr………JC Penney (I didn’t review this list until I started typing)……….
And, umm, yeah, another auto retailer, O’Reilly Automotive…….
There are only two trading days left this quarter, and it’s been an exercise in Running In Place. I hope to God freakin’ Q3 is different. Lord almighty.