Last time we checked in I gave AAPL above 165 as a strong short. We are at 160 right now and still holding the short. As I look to add short positions one that has my attention is IWM the Russell 200 small and mid cap ETF. It currently appears ready to break from a bear flag in the attached chart.

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Further as we clearly are running into a credit crunch in the economy, this is going to adversely affect these smaller companies that make up the index, 40% or so of which don’t have any earnings to speak of. The other ETF I mentioned last time is ARKK innovation ETF. I continue to favor downside there.