The technicals suggest that the markets are setting up for another move down, but with news still being the dominating factor for these markets, I thought it is better to be prepared for any eventuality, so here are some long and short plays that I like for next week.
AEP - Weak rally on Friday considering the magnitude of the down move last week. Like it as a short on a test of MA(20) or on new lows.
AFL - Weak consolidation after a big move down. MA(20) proving to be stiff resistance. Like it as a short right here with the stop a bit above MA(20).
ALSK - Long play. Very bullish volume pattern. Like it on break of 10.50.
ARIA - Nice volume on Friday. Like it on a close over 6.50.
BWC - Like it as a short right here with a stop a bit above 32.
CMO - Long play. Breakout candidate.
2 comments:
Here we go over-trading on the long side again?
Just being ready for any eventuality.
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