I am actually looking to add long positions right now. I found a couple of names that have held up the past week or so amongst the market falling.
Those last two sessions, Monday and Tuesday, came in at high volume. To me that looks like a classic Exhaustion Day. I think all sellers have been exhausted and Monday’s candle will serve as a sort of “bottom”. There could still be some chop up and down, back and forth, but I do think we now start to make our way back up towards that 394 mark.
All of the Bearish trades that we recommended over the past two weeks should have reached their profit targets within the past week. DHR SPG PNC EMR LUV HAS AAP CB ENPH all did great. MRNA didn’t do so well.
On the long side, ATI is not looking so good, but ANET looks strong.
-Good Luck and Happy Trading!
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