MA | RS | SHLD | GNK | RIG

XLF remains a sell, with an anticipated buy to cover signal coming later this week. The fact that it performed so poorly today while the market ate up 141 pts doesn't suggest to me the threat of an immediate reversal. I imagine that reversal will come only when the inevitably brainless announcement is released in the weeks ahead. That said, if/when it happens, it will be quick and violent. Just the mention of creating a bad bank, last Wednesday, moved XLF against me 12%, from which it just finally recovered. I suspect a further drift lower this week with the help of some less than positive economic releases.
Below are some additional ideas.

MA


RS


SHLD


GNK


RIG

Decision Time

This graph suggests that it is about time for something interesting to happen...
SPY


AAPL


MMM


SHLD

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