Some Breakouts to Put on Your Screen

We've been hit with a ton of data, and while there's been a lot of noise, we're seeing little net movement on the overall indices. In this market, you simply can't short in the hole, to steal a phrase from fellow Real Money Pro contributor Bob Byrne.

This is how I see it: Breakdowns simply don't continue. In order to play the short side, one needs to have the courage to short into resistance and keep stops tight. This is tough, because it's similar to calling a top -- though it isn't quite the same. If you are shorting a stock or index as the price hits a resistance point, that should mean the stock isn't hitting a new all-time or 52-week high. Those are not the names to try and short in this environment. Nor should traders be shorting names that have hit measured-move targets from a particular price pattern. A target does not equal a reversal. They are completely different....203 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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