James Taulman
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Our SHORTS Continue to Profitably Slide

Another day of broad-based selling yesterday.

Dow futures were lower earlier, yet are now positive by +83 points.

I ran my morning screens looking for stocks for our watch list.

I noticed an obvious theme – many stocks sold off yesterday with an increase in volume.

It was quite a washout of a day.

Major averages are now down to near some previous lows.

We’ve done decent with our select list of SHORTS.

However, I would be cautious at this point of entering any new SHORT positions.

The market is very oversold.

As far as longs, I had to cut EVHC yesterday, down -11%.

This is the second largest loss I have taken since starting this service at the beginning of the year. First is -12%. The next largest loss after EVHC is -8%. The majority of the single trade losses (5) are less than -2%.

We now have only one (LONG) holding.

That is… JCOM as it remains in an uptrend.

I will monitor our remaining positions, (both LONG and SHORT) of course.

We may get a rally from here within the next few days, but the broader outlook is bearish.

I will see if a counter-trend rally from the lows plays out.

If so, I may have some nimble trades for those who are interested.

Let me know.

NOTE: The above is an excerpt from my Daily Stock WatchList & Portfolio Update. This morning report includes my watch list for the day along with complete BUY, SELL, SHORT or COVER commentary on my current holdings. Make sure you do not miss any of these new reports, please take a moment and get signed up here.