Playing with the Bears

A few good short positions were pointed out by Tim Knight. Here's my view:

MRVL: Info. Chart.

Just broke below its head-and-shoulders in high volume. Long way to fall. Get it on a bounce to 52 or so.

CSX: Info. Chart.

Reaching it's former bottom trendline. Negative curve. Long way to drop.

HANS: Info. Chart.

Hard one to call, considering the rediculous level to which this soda company has risen, but it looks to me as if it has hit its exhaustion rally, and has a LONG way to drop.


Looking around the market, I'm seeing a lot of over-extended charts, with people buying into them. I'm seeing signes of exhaustion and budding capitulation. Not a done deal until the charts tell you so, but I'm a lot more bearish than I was a couple of weeks ago. I'd look for a rally back toward May 10th, and then a failure. That's when I'll believe it.

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