Short Play on Neutral Tandem

I believe this may be my first short idea on this blog and I believe it is a good one. We are on top of a possible A subwave of a major wave 4. The stoch and moving averages have both made a bearish reversal very recently. The time studies also show that the correction should be over between 10-6 to 10-7. We might not even see a long ABC correction in which case the correction could be over as soon as 9-30 to 10-1.

Also look at the extremely light volume on the modest up move from the lo of 21.19 - further confirming the hypothesis that this move up is simply a correction. Finally, The major trend is bearish on the weekly chart. The weekly chart also shows a target zone of about $19-20.



As far as the trade set up, I did not find anything good on the options side - the volume is too light. I would just short the stock if it breaks below 22.68 with a stop loss at 23.20.