Yesterday, I completed the short ARMH position on continued weakness in the EV pattern and covered the SBH short as money started to move back in. I am afraid SBH could stage an oversold bounce in the next few days.
The portfolio is 40% long and 40% short.
The trade ideas for the day are below:
For today, I suspect the biotech sector (IBB) will bounce.
The most interesting trades could be shorting gold miners since GDX issued a short signal. AU can be shorted on any type of move lower.
The AU short is clearly only a short-term trade.