- Short SPWR/CY: Both are breaking down from from miniHS patterns falling rapidly from the their 200MA. The lack of resistance, noted by high LR ratings and the velocity of the drop the last 2 days high at very high momentum. Note: this is very similar to some of the stocks featured in O'niel's Shorting book: year 2001(154, 165).
- Short EDU
- AVAN : broke rules entering when stock was not at a buy point, very silly mistake in a speculative stock.
- POT, IPI, CHK, AREX: Were purchased when the market rally was still confirmed(06/6-06/5), and at this point they are either small profits of small losses so they are technically still good positions. Need to free up capital for shorts which are much more likely to perform well in the near term.
From a greater market perspective similar weakness in other Chinese issues:CHL, BIDU(losing 50MA with great LR), CHNR, and the greater FXI ETF hints at possible 2nd leg downward in the Chinese markets. It appears very similar to the Nasdaq Sept.-Oct. , 2000
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