Stock Watch ” Defcon 1″
As I type this the Asia markets are down 15%. The largest drop since the 70’s. Some of you may be old enough to remember the movie War Games. When everyone was in a panic over a rouge computer starting a nuclear war. When the panic hit a maximum the General said “Take us to Defcon 1”. That means we are at a serious situation This market reminds me of the panic displayed in that movie. Albeit not real panic like we saw in 2008 is not there but the market is going to open way lower tomorrow. As far as we are concerned there will be plays in both directions be careful chasing early gap downs. Anyway Monday was another awesome day. Lets keep the momentum going.
Watchlist : KSP ZAGG KUTV BRLI CVGW
KSP
I have shorted this a few times in the past. Their Board is under investigation and yet the stock gaps and hold. I’d like to see how this hold up tomorrow.
ZAGG
ZAGG is a joke. After getting slammed this nice bounce could be a nice opportunity to short. Providing it doesn’t gap down.
KUTV
Almost like ZAGG. In a constant downtrend followed by a nice bounce.This is a great time for longer term shareholders to jump ship. Look for fades.
BRLI
I like the way this chart has set up. Real nice fades from the $24 high. I would only look to short below 22.50 on overall weakness. If it bounces wait until Wednesday to short.
CVGW
This poor thing is broken. This is one of my favorite set ups. It either bottoms out at 20.34 or it folds.
