3 Stocks That Are Headed South

Wednesday is often referred to as hump day, meaning that it is the middle of the week and just a few days to the weekend. Today could also be referred to as "dump day" as early indications are that investors are dumping stocks across the board.

Today I have three stocks that I think could move significantly lower from where they're currently trading.

The first one is Oracle Corporation (NYSE:ORCL) which gave a weekly sell signal yesterday and looks to be in trouble to the downside.

The next stock is the fashion house/label of Michael Kors Holdings LTD. (NYSE:KORS). This stock also flashed a weekly sell signal yesterday and looks to be headed to the downside. I will be looking at where you should sell this stock, were you should put your stop and how far down I think the stock can go.

And the last stock on the list is SanDisk Corporation (NASDAQ:SNDK). This stock also gave a weekly sell signal and looks to be headed lower. It also broke an important long term support line indicating further weakness to the downside.

As a member of MarketClub and a reader of this blog, you have known for some time that I have been negative on the market. That opinion has not changed, I still expect to see further downside price action in stocks as the general perception of a bear market begins to take root in the minds' of investors.

I will also be covering gold, which is looking more and more interesting, crude oil and the euro.

Stay strong and stay disciplined.

Every success with MarketClub,
Adam Hewison
President, INO.com
Co-Creator, MarketClub

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