DOWNSIDE DAY

Nice downside we had today. Markets sucked if you were on the longside the whole of today. But in my case I am 50% long and 100% short so math question of the day. What is the total net sum of my positions ? 50% Short . Yep short as I like to be. I am getting sick of Google jumping around. A great GOOG play is buying September put options. They move around alot . Look for GOOG to score a 70+ on the hourly RSI and buy some Puts or atleast thats what I enjoy doing. Talking about POS, will you take a look at HANS. Made a 52 week high on the weakest volume last week and its been downhill since than. I keep trading in and out of my HANS short positions using RSI as my guide . Looking at GOOG and HANS they are both trading near the upper ends of their Bollinger bands and I would look for a move towards the middle of the band or even the lower end in the coming weeks.

Now to move on to a bullish picture . Even in these bearish times its nice to keep an eye on stocks making new highs on huge volume. Take a look at MEA. Its been spiralling upwards on way above normal volume. Interesting stock to keep an eye on. Might be overextended with the Bollinger bands and all but would not be surprised at further upside.