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Short Weakness

Monday, 19 September 2011 08:31

With the futures pointing lower this morning it is important to understand that these large gap days are not ideal for me as a trend following, mean reversion trader. This means that I must be patient and wait for the inevitable pullback into resistance that will happen at some point today and if it does not pullback to stay off the keys.

It is also very important to know which names could fall the hardest today and stay focused on shorting those names. This list will include the banks that have been weak except for a two day rally last week that we called here at DTW. Big cap tech has been strong so I will not try and short those names. As the day moves on I will compile my list and make it available.