Friday, April 16, 2010

Another leader falters?

Take a look of this other stock that was also a leader of the current advance (MEND):

MEND broke support around $19.00 on heavy volume and is now rallying back into resistance.

Take a look at this Chinese stock that lead the advance since the March '09 bottom but is now faltering.

APWR broke below support around $11.00 on heavy volume after what I believe was an earnings disappointment. It is now rallying back to resistance on paltry volume and looks to be an excellent short set up here.
If I had more buying power I would certainly look to short these two stocks. Like I said stocks are going to get creamed. It is inevitable. The big money is going to be made on the short side at least in the near term.
Stay sharp. Good luck and good trading!

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