3 Stocks To Sell Now
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As impressive as last week’s 6.6% rally in the S&P 500 was, it didn’t change the structure of the entrenched downtrend. Instead, it was a garden-variety retracement returning prices directly into resistance.
Those who viewed the rebound with suspicion were vindicated on Tuesday when sellers returned en mass at the declining 20-day moving average. With a new lower pivot high in place, I found many stocks to sell before more losses ensue.
In scouting out the best tickers to bail on, I focused on those with relative weakness, a straightforward narrative, and an obvious entry point for new bear trades (or exit point for existing bull positions). If you own these stocks, consider the following reasons why you should abandon ship.
As always, I’ll share an options trade idea for each ticker, so you know how to profit from their pain.
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Category: Options Trading Strategies
