Time To Look At These Short Candidates

Posted by Joe Duffy | Apr 3, 2024 | Joe Duffy's Trading Advantage | 0 |

The gap down Tuesday morning was met by a rally back Tuesday afternoon. In no way do I believe the low left Tuesday morning will not be taken out fairly shortly — it will. The cracks are widening in the broad market. My favorite short candidate stocks that have started to break lower and I believe have lower to go would be first Robolux and then secondly Shopify. One stock I am keeping a close eye on is UBER. This stock could try and rally a bit but I believe it is a short candidate albeit from a bit higher levels, is where I would prefer to enter put options.

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Looking at something above 78.00 in UBER, chart attached. A call option candidate is DXY the US Dollar Index. The dollar should generally move opposite to the general stock market.

Thanks,

Joe

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Joe Duffy

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