PRACTICE.

These last few months have just been practice. I'm practicing for out of summer volume. I'm bored of these summer markets. Every day I'm itching to get out of the office and do something productive.






We talkin bout PRACTICE?







I think here we're gonna probably consolidate a bit - probably the rest of the week. More than likely I'll stay cash. As I report this futures are down 3 points - and I don't expect them to move too much. On the $SPY chart above we're sitting right on the 200 ema, in fact, took a little bounce off it today - but not a positive one.

Before open tomorrow we have Initial Jobless Claims - if the reaction comes out super negative (which wouldn't really surprise me) I like these names short:

SA - flagging after a steep selloff, expecting this to drop much lower on weakness.



MDC - Approaching a triple bottom, watch for a big dip if this loses 25.85.





URBN - the 200 ema is tough resistance, however I think what I find interested is this could be a potential inverted head and shoulders if it can hold the lows of the day today - it would fill the gap and then look for a b/o higher. However, I think this will ultimately fail and will go lower.





SQNM - I was hoping this would hold so I could take this long for a potential gap fill. But today it closed below the support trend - if tomorrow we dip, I'll be looking at this one as well.