Which stocks will you be shorting come Monday?
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Greetings --
Speaking for the US markets --
The action such as we saw Friday is usually followed by a quick rebound. Unless there is some geopolitical event over the weekend, I would not be surprised to see Monday be a significantly up day. You might get a chance to enter your shorts at a better price.
Just my opinion, I could be wrong,
Thanks,
Howard
Speaking for the US markets --
The action such as we saw Friday is usually followed by a quick rebound. Unless there is some geopolitical event over the weekend, I would not be surprised to see Monday be a significantly up day. You might get a chance to enter your shorts at a better price.
Just my opinion, I could be wrong,
Thanks,
Howard
chops_a_must
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As HB said, we will probably get some kind of retest of the breakdown levels, but I don't imagine that will hold. However, it doesn't answer your question.
In my mind, there are two options. Get maybe 10-20 stocks on your watchlist you think will be good to short.
Option one: short those stocks that tank the most on open.
Option two: short those that don't look like they've tanked at all on open.
My thinking being that severe breakdowns wont reverse during the day, in the case of the first option. And the thinking on the second option, is that the stock only has one way to go during the day. But this is only because I will be looking to close out by the end of the day.
I'll be looking to get set on longer term shorts on a pretty probable relief rally.
I'm currently short ERA, BHP and QAN. I want to add another transport and a financial. The only stocks I wont look at shorting right now are telcos. Any weakness in oil and I'll be all over WPL like Sally Struthers is a chocolate bar.
Cheers,
Chops.
P.S. - We could probably do with a potential break down thread.
Sean K
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Unless this is a sustained breakdown then shorting it on the open may mean you actually miss the potential.
Could use the Potential Breakout thread maybe, or start a specific breakdown thread Chops. I think a chart and some sufficient analysis might be required so it doesn't turn into a downramping thread though.
chops_a_must
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That's the risk you take isn't it? Trading futures I've found using gaps in relation to the previous day's range quite effective in determining what action to take. Between 0.6 and 0.8, I look to fade to the nearest pivot point, any less and I look for a gap fill. Any more and I look for a sustained move through the opening price.
Will do.
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You'd be shorting right at support level, remember! 12,800 & 6180 are critical points for Dow + ASX
I like the idea of a thread for shorts. May I suggest opening a new short-trading thread which would be for all days, not just for monday.
Perilya (PEM) is an interesting one. It has closed lower than it opened on each of the last 14 trading days, which beats its previous record of 9 consecutive days set in november. This is a stock whose SP is in serious trouble.
Other S&P200 stocks currently in abysmal downtrends are SUN, TOL and AXA.
Given the lead shown by wall st on friday, monday on the asx looks good for shorting any of the big financial-related stocks e.g. NAB, CBA, ANZ, WBC, ASX.
Perilya (PEM) is an interesting one. It has closed lower than it opened on each of the last 14 trading days, which beats its previous record of 9 consecutive days set in november. This is a stock whose SP is in serious trouble.
Other S&P200 stocks currently in abysmal downtrends are SUN, TOL and AXA.
Given the lead shown by wall st on friday, monday on the asx looks good for shorting any of the big financial-related stocks e.g. NAB, CBA, ANZ, WBC, ASX.
tech/a
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CVN
HEG
NCM
All stops Fridays highs.
Short term trades.
Not recommendations,posted in answer to the question.
HEG
NCM
All stops Fridays highs.
Short term trades.
Not recommendations,posted in answer to the question.
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Hi folks,
AEZ ... it's not over yet ..... !~!
ANZ ... still trading under longer MAs
happy days
paul
=====
doogie_goes_off
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I reckon banks are due some down time, particularly the big 4, will watch with interest (excuse the pun) to see if there is downward pressure on open.
chops_a_must
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Why oh why did you close those shorts on BHP and QAN?
Not sure how I feel about closing the WPL short yet...I started a potential breakdown thread if you want to use that.blablabla said:
I'll probably end up shorting stocks I own today as a hedge, on the ones I don't want to sell...
Chops, I've just started a new "ASX200 stocks to short" thread, not to compete with your new breakdown thread, but to be specifically for stocks that can always be shorted without having to have owned them first. Also, the new thread is for stocks that are in a sustained fall, not just for stocks that are about to fall.
Your ERA recommendation would be a good one for the new thread.
Your ERA recommendation would be a good one for the new thread.
