{+++} We have a long weekend coming up as the market is closed on Monday. I don’t want to start filling up the September P&L yet with names yet, because I am still unconvinced about direction, but frankly I am seeing more that I would like to short than to buy. I guess much will depend on tomorrow’s employment report and what Europe decides to do in the weeks ahead. Frankly, the murmurs that I am hearing out of Europe are not confidence inspiring, and I think more than one shoe will be dropping there, more like Imelda Marcos’ closet.
I was looking through some charts and found some that could break hard if the market does decide to roll over again. I suggest you put these names on your own radar and I will update them as we get into next week. Of course I will have the Sunday night video with some names too. Most of these are bear flag formations which is my favorite high probability pattern to short during a hard sell off.
Good luck and I will see you on the chat tomorrow.