HLF has a very similar setup to the current Z short trade with the stock bear flagging just above the primary uptrend line. A break below that dual support level will trigger an objective short entry. Daily chart shown, click here to view the live chart.
I plan to update the Active Short Trades this week as the recent rally in the broad markets has unwound the bearish technicals on some of the active short trades. I’m also looking at possibly adding back some of the gold & silver mining stocks that were removed upon hitting their final price targets when the previous rally in the sector topped out in late August. GDX, SIL, GLD, SLV and a couple of select mining stocks still remain as Active Longs but there are quite a few other individual miners that look interesting at this point. For the most part, most commodities and precious metals (as well as bonds) continue to offer a much better risk/reward profile in the near-term than do most US equities at this time. Despite the seemingly relentless bid beneath the broad market lately, numerous caution signs continue to persist and my preference remains to keep things light for now. This means being selective on taking new positions with below average position sizing and maintain a long/short portfolio (long selected commodities & precious metals stocks, long fixed-income securities, including the high-yielding CEF growth & income trade ideas while short select equities).