Here’s What I Look For In Potential Shorting Opportunities
Picking tops has never
been my strongest suit. However, when there’s ample technical evidence
based on ‘the news’ that something might not be quite so fashionable any more—then
it becomes something that I don’t mind trying on as a potential shorting
opportunity.
10:25:33
Intraday Setup Alert
Nordstrom (JWN)
was upgraded, but it looks like retail is done buying. On the session JWN
has reversed hard to form a high volume engulfing bearish bar as it attempts to
break daily pattern supports. Continuation shorts below session and
consolidation lows might be considered thru 39.08. JWN is off .41 at 39.37.
It wasn’t a trade that you’d normally find coming
off the proverbial rack, from this ‘cautious bull’ analyst,—but I certainly
wouldn’t mind trying that one on again.