I've been shorting stocks on top of my long positions on bank stocks. I really couldn't convince myself this is the time for bargain huntings. Drug stocks as a whole are good short candidates for now. I'm currently shorting one major US drug stock. It just got split today.
Semi stocks look really bad and mat trade even lower.
Just covered my short on STM today. Covered a short does not mean I won't short it again. 9000 will become next resistance level. US market is closed today in observance of Memorial day. Abbey Cohen, chief U.S. market strategist at Goldman Sachs, says investors need to reduce their expectations, according to BusinessWeek.