The Short Apple Setup

AAPL is showing a negative divergence and is extremely extended at new highs. I am short with a tight stop.

OT: My All-Time Baseball Team

A few buddies and I were debating our "all-time" baseball team. This is going back to when we started watching (early 80s). Nobody we haven't gown up with is allowed:

C: Joe Mauer
1B: Albert Pujols
2B: Joe Morgan
SS: Alex Rodriguez
3B: Mike Schmidt
RF: Ichiro Suzuki (torn betwen him, Reggie Jackson, Vlad and Tony Gwynn)
CF: Ken Griffey Jr
LF: Ricky Henderson (toughest position with Bonds, Yaz, Manny)
DH: Frank Thomas

SP: Pedro, Clemens, Maddux, Randy Johson and Nolan Ryan (tough to leave off Carlton, Santana and Smoltz)

Closers: Rivera, Eckersly and Goose Gossage (another tough one with Sutter, Nathan, Hoffman)

Too Extended to Enter Longs

While them market is too extended for my to add to my long positions (report members know that I was long before the move using the oversold bounce strategy), there are some low risk short setups among inverse ETFs.

Head and Shoulders Pattern is Still Intact

As long as the head and shoulders pattern holds, I remain ready to initiate shorts on a bounce.

Charts: BRE and PALM

I entered two trades today. PALM is a trend pullback setup and BRE is oversold bounce.

Trade: FWLT

As noted in the alert to subscribers yesterday, I entered FWLT at $19.03. The stock is extremely oversold and due for a snapback.

Quick Hit Game Plan

1. SPY has decent long entry here at support. Tight stop.

2. Short SPY and watchlist stocks on bounce.

3. Many watchlist short setups can be entered long as snapback trades if we get major weakness in the coming days.

4. Tech looks bad. Short Qs on stength.

Guess Why I like KSS

No prize to the winner . . .