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2018-04-22: Dropping **** and **** from the Watch List.
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Q: Dear Sir: I am confused. I see pktr, crdn, askj, fdcc, cmtl, and yesterday mrge are on the hourly stock reports as shorts. At least - 3 crdn, fdcc, mrge have what appear to have excellant numbers and comments. Why then do they appear as shorts on the hourly stock reports?
A: The short list on our Hourly Stock Reports is simply another filter. The stocks that make this list have Relative Strength of 99 or are 100% above 200 day MA, or are reversing off their 52 week highs. On the stock reports, please check the chart pattern to see if the stock price is extended before considering it to be a short. In fact, we should really look at stocks more than 150% above their MA. I think we will tighten up this filter on these hourly reports.
A strong GSA Rank doesn't prevent the stock from being a short if the technicals have broken down as explained above. Often, strong stocks will move to these extremes, and could be good potential shorts. Finally, take quicker profits on shorts - 10 to 15%.
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