A Trade A Day

There are still many shorting opportunities out there. A little digging will yield some excellent setups. I didn’t need to go farther than the NASDAQ 100 to find these bad boys:

First chart is INTC. Why would I want to short INTC:

1. The NASDAQ is tanking. It’s down to its 200 SMA and consolidating.
2. INTC is has broken its 50 SMA, consolidated and ready for a new leg down.

I like INTC under 25.00.

Second chart is MSFT. Why would I want to short MSFT?

1. Because, like INTC, the market is tanking and MSFT will go with it.
2. MSFT is forming a bear flag.
3. MSFT has a gap it wants to close.
4. Because the only thing Windows does better than Linux is crash. Oh Snap!

I like MSFT under 33.70.

Word of caution. Going into the Thanksgiving weekend, liquidity will dry up. It’s probably best to wait until next week to initiate any new positions. I will be take the rest of the week off from trading, but not the blog.

Good Luck!

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