October 16, 2014

Entering $SOYB, $IWM on watch

I am considering a short of $IWM $SPY and $QQQ, but I'm very hesitant to do so.  For one, I just don't like shorting anything.   And currently, there's not great risk reward in it after the steady drop.  So if I short today, it will likely be in $IWM, and only after it starts breaking down.  If it doesn't, then I won't.  In my opinion, all indices deserve a short position if one is a trend purist.

I am entering $SOYB as it's shown some strength lately, and I hope to see it turn into a rally.  If it doesn't, then I know when I'm out.  I'm watching $WEAT as well, but I want it above it's 52-day SMA.

$GRMN also looks good, so let's see what it does about it's 50 day, and then enter on further strength.

$JO is just too far away from my stop, and I got 3rd degree last time I entered it.

$BRK-B looks attractive if we can clear this rough patch.

Exits of $PEP and $DPS likely today.  Market not liking the fizz.

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