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3 Shorts And 1 Long To Help You Keep Your Balance In This Chop-Fest Market

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October 03, 2011 – Comments (0) | RELATED TICKERS: BBY , BIIB , COG

This market has been nothing but a chop-fest and this definitely favors the bulls should this continue throughout the day. There is a ton of support at the 1120 level on the S&P and you can clearly see the buy machines come on strong every time that level is tested. Once the bears can close below that level though, it should make for a nice windfall to the downside. 

Below I've provided a few short setups that are at strategic support levels, ready to breakdown, but like I just mentioned, they are going to need the cooperation of the market getting below that stubborn 1120 level. 

 

SHORT: Best Buy (BBY).

SHORT: Biogen Idec (BIIB).

SHORT: Cabot Oil & Gas Corp (COG).

and......

LONG: Medtronic Inc. (MDT).

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