Stock Trading: Short Setups For Friday

Good setups are few and far between, but I managed to find a few I like. I am approaching with care, considering the distinct possibility of a strong counter-trend rally.

- Partner Communications (PTNR) is sitting under resistance after a high volume drop earlier in the month.

- Meritage Homes (MTH): Meritage Homes hit a low of 7.04 in January, and closed at 23.65 yesterday. I am considering buying puts.

- II-VI (IIVI) broke through a one year old trendline yesterday on increasing volume. Hat tip to Evil Speculator for this one.

- Illumina (ILMN) broke down through the 200 day moving average yesterday on increasing volume.

- Somanetics (SMTS) has lower highs and lower lows in place, and appears headed toward March lows.

- Sterling Financial (STSA) is still in an uptrend. However, the July low was 2.34. Yesterday, the closing price was 14.25.

- Banco Santander-Chile (SAN) is under significant resistance, and the chart shows some big red bars earlier in the month. This is a play on the globalization of our economic crisis.

- Oriental Financial Group (OFG): I am looking for a break below 17.00 for a short entry.

- The Home Depot (HD) is stalled below the 50 and 200 day moving averages.

- Continental Airlines (CAL): Another airline stock way off its lows.

- Intuitive Surgical (ISRG): More downside likely if it drops below 225.00.

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