The market was down a nice little amount today but volume was not heavy enough to bring up any shorts. In my short scans we had SON, ROH, and STRA show up. SON and ROH are down too much to make a safe short and STRA is showing some recent positive divergence that indicates it is not ready to be a good short yet. Once the BOP goes red again and the volume surges on the downside then and only then will I consider entering a short in STRA. STRA is definitely the top potential short on my list as it is the last high-priced stock that is still near the recent 52-week highs. So I will keep my eye on that stock so I don’t miss the right time to go short. However, I think it might be at least till next week as I can’t imagine volume picking up the rest of this week heading into the new year. Hold on to those winning shorts and for now cash remains king over buying new longs or taking new shorts.
new short positions: none
none
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