7 Short Targets

I ran another short screen. Criteria: volume up 50 percent from normal and down at least 5 percent last week, plus volume and market cap screens to eliminate small and low liquidity stocks. There are a couple of tech firms, the rest are stocks I'd classify in the "inflation" trade category: industrials, chemicals, rail. I have slightly OTM puts on APD that were way OTM when I bought them about three weeks earlier.

Kill List

I started going through a screen list and then just started looking at high-priced stocks. The same pattern keeps appearing because the whole market looks ready to plummet.

More Screen Results

I took the 52-week low condition off and added a one-month minimum loss of 10 percent. Produced a list of 77 stocks. The best looking ones that I haven't posted already are below. To reiterate the theme of the weekend, all of this junk is still well above fundamental valuation. It doesn't matter if it is down 40 percent already, it is going to suffer a couple more 40 percent losses before bottoming out. The question for the next week is whether the headline indexes start catching down to this stuff or of this stuff bounces. The market has always bounced before, but the carnage beneath the hood in the Nasdaq is screaming bear market. I've included more IPOs, mostly 2020 and 2021 vintage. The three most common themes that I see are biotech, recent IPOs, and ARK holdings.