Palladium (PALL) only fell 1.17% on the week but should soon play catchup and fall hard.
Palladium is actually an interesting short to me here. I'd consider a short here with stops at $810, but I think it's inevitable that palladium drops hard. A break of this uptrend line should quickly take us down to $740.
We're still in a dangerous market, but many stocks are showing me tradable lows. The most recent member letter is 41 pages of nice trade setups. You can find out more about what I do for members at www.wizzentrading.com.At the time of publication, the author held no positions in any of the stocks mentioned. This article represents the opinion of a contributor and not necessarily that of TheStreet or its editorial staff.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV