Randy – Thank you for your generous response. : > )

I was looking at it back then. funny.

Wow, what a setup on SGRY although I really wish you would have asked me about it on April 9th ;-)

All kidding aside, that was the most objective time to short SGRY as the stock had just backfilled a massive gap (i.e.- top of that gap is/was solid resistance) with negative divergences and coming off overbought levels following an overextended rally of 157% in just over 5 months.

As the stock has already dropped 15% since that kissing the top of that gap just 18 days (14 trading sessions) ago, the odds for an oversold bounce start to increase sharply with every tick lower, especially with positive divergence about to be confirmed on the 60-min chart with any upside in the stock next week.

As such, maybe look to short a bounce back to the 16.75ish resistance level or only short a partial position here if you think it is heading much lower before a meaningful bounce. This daily chart has 3 potential price targets with the 13.70-14.00 area being my first (I would set my BTC limit order around 14.05-14.08 if I were short). G-luck if you take it.

Even better, if & when we finally start to see enough technical evidence that tells us there is a good chance that we are in the early stages of a new bear market, we might be able to identify a primary 5 wave count in the early stages in order to be on guard for a potential 3rd wave. I’m far from proficient in EWT & while the counts may be obscure & quite often too subject to after-the-fact revisions IMO, I do think it is worth keeping an eye out for what might be shaping up to be a new primary downtrend that might be forming the first wave or two of a primary 5 wave count as if the count does seem to fit well, you’d be better off staying away from just about any longs***, even defensive stocks as wave 3 begins, as nearly everything with a ticker gets sold in that 3rd & most powerful & impulsive wave.

**By anything with a ticker, I am referring to stocks (equities), mainly those that are a component of any stock index such as SPY, QQQ, MDY, DIA, IWM etc..as the massive outflows from investors, exacerbated by margin calls with lead to force selling which then quickly spirals into a vicious cycle (more panic, more selling, etc..) causes the good stocks to get sold with the bad simply due to the fund redemptions & money flows out of the ETFs, etc. I am not referring to commodities, gold, possibly treasury bonds & other securities that have little to no correlation with the stock market. Here’s a link with some basic info on EWT: http://stockcharts.com/school/doku.php?id=chart_school:market_analysis:elliott_wave_theory

Maybe someone here that uses EW or frequents a site that does can share their thoughts on whether or not there are any clean counts off the 2018 highs right now & if so, where we are at in the count. Back to your questions, until we have enough evidence to say that the primary trend has most likely shifted from bullish to bearish (i.e.- the bull market from 2009-?? is over) then you should be fine with picking the best looking long trade ideas as part of a diversified porfilio with both long & short positions, stocks, bonds, commodities, previous metals, etc. (of course, strategically rebalancing or moving in & out of those positions as the charts dictate).