With a lot of tech stocks falling and the GMI likely to turn Red on Friday, I should note that, according to IBD, the put/call ratio = 1.04. A little more bearishness from option traders could signify a likely oversold bounce. So while I am mainly in cash and short the QQQ with put options, I will not marry a bearish scenario–yet. One stock that came up in my strong relative strength scan on Thursday was MNST. It found support at its rising 50 day average (green dotted line) and lower 15.2 BB on above average volume. I am following MNST closely.
MNST is also in a yellowband uptrend heading towards its green line all-time high, after a 3/1 split.