I posted a a list of long setups earlier in the day today. Make no mistake, I am long on the markets here but there is something that makes me uneasy being overly long here. For some reason, I don't feel as bullish as I normally would after a day like today. I think that has something to do with the markets currently being driven by news. Bad news and these markets could turn 180 degrees in no time. So, in the spirit of being prepared, I decided to look for short candidates and the first obvious place to look was the long/short watchlist I had posted this weekend.
Most of the short candidates bounced on low volume today, but what else would you expect on a 180 point up day. But there was one stock that stuck out like a sore thumb and that makes it our Chart of the Day for today. I won't ask you to guess the name of this stock as that would be a pretty lame pun. But its not good if an already broken down stock can't bounce on a day like today. I like it a short on break of Thursday's lows.
Take care and good luck!