U-turns Permitted

For a second, lets pretend that this market won't head up forever. If it happens to make a U-turn at some point, what stocks are ripe for a fall? At this point, you could pick a stock blindfolded and it would probably be at least a little overbought.

Pekin Elmer (PKI) looks to be ripe for a short. RSI and MACD are both showing divergences from the stock chart. Also, the retracements seem to be bouncing of their Fibonacci lines.


fundamentals such as less I'm a big time believe that Dell is going to take a fall soon. Apart from deteriorating market share and not SEC filings for the past year, we got a nice shooting star formed today. Beware for any new trades tomorrow since things could be volatile due to options expiration.



Gamestop looks to have another shooting star with a lift as of recent. I think it could drop a few points before it decides if it wants to change direct again.



That's all that I really have time for tonight. Plus with expiration tomorrow who knows what will happen. Even without that, the market has been tending to head up regardless of the news so that has made chart reading and being a bear difficult recently. I'd like to rant about gas prices (not the argument you might think), but I guess I'll have to save that for another day.