In early morning trading, US stock futures are up on news of a government rescue package for Citibank. As I mentioned in last night's sector overview, sector charts are looking bearish here. A continuation of Friday's rally will provide some improved entries for short trades.

As a side note, I recommend checking out the blogger sentiment polls at Ticker Sense. The figures going back to week of 10/23 are available on the lead page. Just for the record, here is the bullish percentage in the blogger sentiment poll for the past five weeks:

10/20 62.50%
10/27 52.17%
11/3 60.87%
11/10 65.22%
11/17 57.89%

Usually the neutral figure fell between 15-25%. At least among bloggers, bullish sentiment has remained fairly steady, if inaccurate.

Going through individual stock charts, I am finding some of the best short setups in the oil and gas services sector. I am going to wait and gauge the strength of today morning rally before starting any positions. Many of these setups would benefit from a small bounce higher.

- SLB



- APA



- CXO



- CXG



- GW



- NFX



- CLR



- CRK



- COG



- SD



- NOV



- SPN



A few short setups I like in other sectors:

- DAI



- POT



- UPS



- MANT