I’ve spent some time reviewing the charts of the active short trades and came up with a short-list of the most attractive looking add-on or new short candidates from within that group. Those stocks are:
ALK, CRM, CVX, FDO, HTZ, JNJ, KO, LUV, MDCO, MIC, NFLX, & SAVE* (*SAVE has yet to trigger a short entry based on the previously suggested criteria but I will add it as an active short trade today with an updated chart to follow asap).
Most of these trades are intended as long-term swing trades with expected holding periods measured in weeks to months and as such, the appropriate position sizing and accumulation (i.e.-scaling in) should be adjusted accordingly, especially in light of the recent spike in volatility. The majority of the remaining active short trades still look fine for now but there are a few that I am considering closing in order to streamline the list and make way for some new trade ideas, both longs and shorts alike.