Some Short Trade Ideas

As I said earlier, I ran a new scan and came up with a LOT of candidates. I wanted to get some out there to you before the close, that does not mean you need to rush into them. You may want to establish partial positions or take the weekend to take a closer look at them (of course you can email me as well with any questions), but here are a few that I've had a chance to take a closer look at. These all have 3C negative divergences plus the Stochastics/RSI divergence that has proven to be very useful in identifying turn around situations. The red square on the first of each daily chart is an approximate stop out level, of course they are just suggestions and should be considered as such. Make sure you are comfortable with the risk in determining your stops and position sizes. Most of all, don't over react to today's price action, there's plenty of time to establish positions still.

ERTS

 Daily

 Hourly accum./dist. cycle

JOYG

 Daily

 15 min cycle in a leading negative divergence.

KLAC

 Daily

 60 minute cycle

MU

 Daily-the white arrow is just there for example showing no neg. divergence in RSI until the most recent at a double top.

 MU 15 min cycle in a leading negative divergence.

MXIM

 Daily top formation

 15 min cycle with previous negative divergences and effects of them.

ROST-Retail I think is a strong candidate.

 Daily

 30 min acc/dist. cycle

XRAY

 Daily with a confirmed reversal

Hourly negative divergences and the Stoch/RSI indications.