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Uploaded on Aug 28, 2014
It has been months since we initiated any short position. That has generally been a bad idea. So here we go with the first set of short/sell ideas. This is also a way to test the internals of the general market. IF these stocks trend lower in the coming weeks and months then we are looking at a market that could correct significantly.
VSI [$39.90] is to be sold now that it is below $42.12 on its monthly chart. The stock can conceivably trade in the mid 20's or lower within 6 - 9 months.
MX [$12.01] is a short now that it is below $12.41 on it's monthly chart with a potential price target of $5 - $7 in 6 to 9 months.
WFM [$38.99] is a short RIGHT HERE and more so when it clips below the current monthly closing high of $38.12 . In 6 to 9 months out the stock could be trading in the mid to lower 20's.
LVS [$67.56] is a short as long as it continues trading below the recent recent weekly closing low of $68.13. It could be signalling an intention to trade in the 40's in 6 to 9 months out.
WYNN [$195.25] is now breaking below the recent monthly closing low of $201.34 and looks set to initially trade in the ~$160 area which is the most recent successful weekly breakout level.
Set an alert for HLF [$50.48] should it ever break below the current recent weekly closing low of $49.54. A break of $49.54 could see it trade in the 30s within 6 to 9 months.
Of course price targets are always going to guesstimates at best.