Retailpalooza

Although the market in general has been steadily making never-before-seen highs this year, I have been doing pretty well with my nothing-but-shorts trading. A few sectors of special concentration for me have been energy, financials, and retail.

This last one in particular did nicely for me today, as a variety of shorts were smashed by Macy’s (M). Looking at the big ETF retail fund below, you can see the topping pattern is still forming, although there is a pattern-within-a-pattern tinted in green that’s very close to failing.

0606-XRT

Looking closer, you can see a clear-as-glass example of a massive head and shoulders pattern. I haven’t covered a single short in retail, and I look forward to much greater gains.

0606-XRETBIG

In fact, Monday morning my first post of the trading day suggested to Short Dicks (DKS), and, well, that turned out quite nicely.

0606-DKS

Disclosure: None.

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