Short Seller, Shake-Out

Just in case someone’s not seen what a ‘whack’ looks like, here it is.

Notice, the kid on the left seems to be saying ‘It’s not that bad’ … oh, really? 🙂

A few seconds later we get to The Whack. The kids run off and the ‘old timer’ comes in to take their place, with his ear protection and respirator.

A perfect analogy for the markets.

SOXX, To New Highs, or Last Gasp?

If the bulls are going to regain control, this would be the place. If they can’t hold on, then it’s likely we’ve past the top last Tuesday, the 18th.

Depending on how the market closes the session (currently, 11:35 a.m., EST), the stop on the short position (via SOXS) may be moved higher (not advice, not a recommendation).

Ideally, we need to have a new daily low on the SOXX (high on the SOXS) to move the stop.

Stay Tuned

Charts by StockCharts

Note:  Posts on this site are for education purposes only.  They provide one firm’s insight on the markets.  Not investment advice.  See additional disclaimer here.

The Danger Point®, trade mark: No. 6,505,279