As I took most of last week off, the Trade Ideas on the site are in need of updating, both the Trade Setups as well as the Active Trades. I’ve already removed several active long trade ideas today and there are still a couple more which I might take off soon as well. I also plan on updating as many of the Active Short Trades and Short Setups asap as well but until I get around to doing so, here are some of my favorite Active Short Trades that I believe still offer an objective entry around current levels:
AMZN, CBK, EXPE, HOV, LEN, LL, MW, NFLX, NTRI, OCN, PHM, SHW, TZA, V, VAL, XHB.
Many of the remaining Active Short Trades still look good as well but those are some of my favorites at this time. As far as Longs go, it’s been hard to find many objective looking swing trade candidates with the market so overbought. I continue to favor a hit-n-run trading style (get in, take early profits and get out) as the R/R for entering or holding longs at this point is extremely unfavorable (despite the fact that CNBS and most mainstream media outlets continue to bombard the masses with how bullish the 2013 is going to be since the first quarter was positive). Maybe, maybe not. As I stated recently, I’m still of the belief that a swift move down that will wipe out months of gains in mere weeks is very likely in the very near future but we’ll have to assess any pullback as it comes in order to decide where & when to book profits on the short side and/or start aggressively accumulating longs.