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SSS - Thoughts on the Short Side for Wednesday, December 21st.

With the Market Direction Model staying on a sell signal, our inclination is to look at our target short-sale stocks as being shortable into the rally when it comes to stocks that are still in a compromised technical position. Thus, with AAPL pushing above its 50-day moving average, which we were using as a guide for an upside stop, we would tend to be cautious, while AMZN, which remains below its 200-day moving average remains in play. 

Most were puzzled by yesterday's wild move to the upside, but today we learn that the European Central Bank is going to print, er, we mean "lend" 489.2 billion Euros to 523 banks. That makes for 1.0695 billion Euros per bank! European markets have also weakend now that the news is out, but at least now we might know what yesterday's crazy move was all about.

Some other stocks to watch here: CF, using an upside stop at 140, which is prior resistance. BIDU and CRM are long gone to the downside, and CRM is getting raked on ORCL's miss yesterday, so they are not shortable here, but another stock we like here short is LNKD, using the high of today as a quick stop. We have positions in AMZN, LNKD, and AAPL currently, but it is not clear whether we will hold these as this will depend on the general market action and any change in the MDM's current signal.

This information is provided by MoKa Investors, LLC DBA Virtue of Selfish Investing (VoSI) is issued solely for informational purposes and does not constitute an offer to sell or a solicitation of an offer to buy securities. Information contained herein is based on sources which we believe to be reliable but is not guaranteed by us as being accurate and does not purport to be a complete statement or summary of available data. VoSI reports are intended to alert VoSI members to technical developments in certain securities that may or may not be actionable, only, and are not intended as recommendations. Past performance is not a guarantee, nor is it necessarily indicative, of future results. Opinions expressed herein are statements of our judgment as of the publication date and are subject to change without notice. Entities including but not limited to VoSI, its members, officers, directors, employees, customers, agents, and affiliates may have a position, long or short, in the securities referred to herein, and/or other related securities, and may increase or decrease such position or take a contra position. Additional information is available upon written request. This publication is for clients of Virtue of Selfish Investing. Reproduction without written permission is strictly prohibited and will be prosecuted to the full extent of the law. ©2024 MoKa Investors, LLC DBA Virtue of Selfish Investing. All rights reserved.
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