Excellent! Looks like you will do well with SWIR and PXLW too.
Over the next couple of sessions they could rise nicely with the market in my humble opinion.
I do think the market may run a bit higher here for the next couple more sessions until the quarter ends.
Although the put to call ratio has been trending lower lately which is indicative of a top the last couple of sessions have been fairly high. Too many puts makes for a rising market.
In addition the VIX hit the upper Bollinger Band yesterday and reversed course lower today maintaining a negative bias (that suggests more of a gain is coming for the market) until it finds the lower band and reverses.
That probably means VIX below 21 again perhaps on Monday.
In addition as I mentioned here last night the most important indicator to me that the market would bounce was that the TRIN and TRINQ were both over 1.5 yesterday. These are extreme readings that suggest the market is short term oversold a due a bit of a bounce.
I'm thinking that with a little patience the best entries for short positions might be a day or two ahead of us if you are inclined to go that way. The market volume even on up days is drying up. So when the quarter closes out with so many signs of distribution showing up lately...
the only thing going up by the fourth might be fireworks. <gg>
I'll be opening some short positions by Monday's close.
JMHO's. Good luck no matter what you decide to do.
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