Boobies

A couple of my booby traps were triggered today. This however sucks since both triggers are to the downside which I don't like after so much weakness in the market. For consideration:

ICE




















FSLR




coming up AAPL

SHLD - Sep 85 Puts

Most of the following charts are shaping up bearish - just keep in mind that there haven't been a lot of follow-through days lately, so getting wildly short after a 2% down day probably isn't a good idea. Most of these have a time frame of at least 1 to 5 weeks.

SHLD

QQQQ

ICE

AAPL

FSLR

Out of these, I like SHLD the best - resistance at 93 held up nicely and it continues to channel downward. There's a bit of activity in the SEP 85 Puts that I can't disagree with...of course volatility could always be a little lower.

OptionSpot

SPY | X | FSLR | FXI | JPM

SPY - 2 yr chart

SPY - 6 mo chart

X - short term overbought

FSLR

FXI

JPM

FSLR

I like FSLR on the long side here. Short-term. Use stops.

Shorts: FXP, ICE, NMX, MA, CSCO, PCX
Longs: GLD, FSLR, DBA, OXY, BP

setups

LONGS:

USO and WDC are presenting low risk setups to the long side.


SHORTS:
FSLR
The following oil, gas, steel, and coal stocks all look like crap after their technical breakdown earlier this month:
SLB, OIH, HAL, APA, DVN, BP, XOM,
X, AKS
ACI, BTU
If you happen to like any of the oil driller/service/equipment names, stick with CHK or RIG.


WATCH:
FXI (125)
BIDU: bearish but oversold, short on a bounce


OptionSpot