Despite how ugly yesterday’s sell-off was and all the bearish engulfing patterns made I’m not really feeling the short side right now. My scans turned up just a handful of decent looking short candidates (none of which I’m thrilled with), and my longs hung in pretty well through yesterday’s selling. The NASDAQ’s 50-day moving average is nearby, so I suspect bulls will step up there to try to bounce the market, assuming we even drop that far. Most of the stocks I see are still in intermediate-term uptrends, so I’m looking to find points to buy on this dip.
