On Monday I sent out a short list of January candidates. The list included stocks like CMG and MCD, ETFs like GLD, EFA and SSO. CMG and EFA have broken below their respective targets, but I haven't taken any action yet. I do want to take some action on SSO or the Proshares Ultra Long S&P ETF. The target trade is to sell the January 20 Puts (Symbol: SOJ MT) for $0.50 per contract. The initial margin is about $250 and the initial cash requirement is $200 ($250 margin - $50 premium received) per contract. The risk management is a technical break and close below the 11/21 gap high of $21.21. I wouldn't be surprised to see the market decline in the next couple of weeks to fill in a lot of these gaps. I am still looking at establishing a position on EFA (iShares MSCI EAFA) so look for that alert today or Friday. Have a nice day and happy holidays!