Sold STAR (closed below 50dma)
Shorted VIV (see below)
Sold SLV (closed below 50dma)
I mentioned earlier in the week that I would likely short VIV. On Thursday, I went ahead with the trade.
This stock was identified with a new scan. I have given more thought to this scan, and I do think that the logic behind it is sound. The scan finds stocks that are showing recent short-term weakness within an already existing long-term downtrend.
Of course, I will still be using my other scans, and looking for stocks making 52 lows/highs, but I think this scan will add some diversity to the mix:
