Bulls on Wall Street: Stop Guessing. Start Trading.

Sell off continues in the market after 8/20 MA and trend line breakdown on SPY.

spy

No real support till 222/221.80 on SPY. Market action has been poor for the beginning of last few Januaries and it seems market is heading that way this year too. We had another decent day in chat room, shorting gold via DUST. As far as daily watch list,slim pickings,will be watching few names for support  buy. I will also keep an eye on few beaten up ,year long under performing names. Now that the tax selling is over and beginning of a new year, may be some bids would come to those names if general market holds up. If you decide to trade them wait for an intraday setup with defined risk/reward.
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IONS Watching for support bounce around 47 area.

IONS Watching for support bounce around 47 area.

X Our 20 MA and trend line break short working well. No real support to 50 MA,however maybe a quick bounce on another flush below 32.

X Our 20 MA and trend line break short working well. No real support to 50 MA,however maybe a quick bounce on another flush below 32.

AMZN Another flush to 200 MA, might catch a bounce.

AMZN Another flush to 200 MA, might catch a bounce.

ACIA Watching for end of the year bounce “January Effect” on this.

ACIA Watching for end of the year bounce “January Effect” on this.

VRX Watching for new year bounce “January Effect” on this. Now that the tax loss selling is over. ENDP same idea.

VRX Watching for new year bounce “January Effect” on this. Now that the tax loss selling is over. ENDP same idea.

TWLO Watching for new year bounce “January Effect” on this. Now that the tax loss selling is over.

TWLO Watching for new year bounce “January Effect” on this. Now that the tax loss selling is over.

WUBA Beaten up name. Watching for new year bounce “January Effect” on this. Now that the tax loss selling is over.

WUBA Beaten up name. Watching for new year bounce “January Effect” on this. Now that the tax loss selling is over.

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