Market - Updates

As at yesterday, the indices (e.g. Dow, S&P 500, Russell 2000, Nasdaq 100, Housing) showed a confirmed short-term reversal to the downside. The first target should be the lowest point over the last 2 months. The immediate resistance (stop loss) would be the highest point over the last 2 months. I believe the market will try to break the support (where my target is) and go lower. Let see how it turn out.

There are many possible short plays. These include:

• AAPL - AAPL tends to close its gap whenever it has a huge gap up (last one in early July). Target $55.08 & %50.16
• Homebuilders & homelenders (DHI, TOL, KBH, BZH, RYL, LEN, LEND, etc)
• Index stocks (DIA, SPY, QQQQ)

I had already place my positions and am reaping the fruits of my labour so far. I will probably put more ahort positions soon.

- PersianCat04 (Millionaire-in-progress)