Short Picks - Down to the Ground.

[eliteG]

I'm gonna try posting short picks in this thread.     Lets see how they pan out.  Feel free to add on, comment, question whatever  its all cool.

*note: 
my picks are completely technical chart based shorting, no news or story or earnings research, the only thing I watch is that <20% of float is shorted:
(http://www.shortpicks.com/short_interest_01.asp)
and the stock is not on hard to borrow list:
(http://www.shortpicks.com/hardtoborrow.asp)
*also I try to pick only NASDAQ stocks

Here we go.  Down to the ground. 

[eliteG]

ALGN - descending triangle

[AussieTrader]

I'll watch your short picks with interest. I'm not a great shorter and tend to leave that to the following times-  a) Full on BEAR situations or b) when you have ridden a super momo stock up, sell your long position then short (should the chart indicate it's turning over). Being able to short is a great asset to have in any traders skill set. By the way, I like the black charts, I guess as a reminder to yourself they are shorts?
Mike

[eliteG]

Aussie, I know you know your technicals.  Just look at some charts upside down and you're basically ready to short...lol.

Black charts for some variety...but thats a good idea.

[eliteG]

CCBL - trendline break and like the action afterwards

[AussieTrader]

Just turning my monitors through 180 degrees.........Ahhhhhh that's better, Oh oh I need to short all my current long positions aaarrrgh

[eliteG]

CHKP - rounded top

[eliteG]

ERES - lower high or head and 1 shoulder, and trendline break

[Irishman]

Elite-
I must say, I love this idea. Especially for those of us who are not as adept at chart reading as you and some of the other lads. FWIW I think this mini bull run is about to fizzle, and that's a great time to start shorting stocks that are overbought . I also believe that far too many traders neglect this aspect of trading , because our natural instincts are to want a stock to move UP rather than down. If this market does start to turn down, shorting is THE safest way to make money.  Looking forward to more!
The Irishman

[eliteG]

Hey Irishman  ,

I'm glad you like the idea.  I will try to refine my methods as we go along and keep this up-to-date.

update:
ALGN - stopped out
the rest not fantastic but lets see what tomorrow brings...
I'll try to add more tonight.

[Pete]

     eliteG,
This is a great idea, specially for those (like me) who are scared to short. Maybe because  I got burned more times than I care to remember. Will help me positively.
Applaud!!!

Thanks.
P

[basanlas]

eliteg

thanks for the help..this adds another dimension in my learning of the stock market. I wish I could of got in on your DSTI pick !! But I have to work..maybe you can start sending out text messages!! just kiddin Keep up the good work.

[eliteG]

Thanks for the support everybody  .  I'll keep going until the shorting method works pretty smoothly...or I get smited into the ground 

[eliteG]

DCGN - double top, negative divergence(price vs MACD)

[eliteG]

CMVT - support line break -> trace out right shoulder
** check out the negative divergence example...nice