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Pastimes : Trade Blogg Ideas Inter Alia

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From: Rutgers5/5/2006 6:23:06 PM
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New Trade Alert - in this market environment that d/n seem to have any fear whatsoever...

I opened a new short today

Shorted &*# at ~$7.88/sh. This thing has moved from $4.00 to $8.00 in just over the last three weeks! Call me crazy, but that is one helluva move. The main reason I shorted it is b/c the two year chart shows $8.00 as a frequent line of resistance. If that breaks, $10 could be next. If it heads south, $6 could be in the cards.

Having said that, shorting in front of a locamotive like this one is often very, very dangerous business to one's portfolio. What was I thinking? Obviously, I need to keep a close eye on this one.
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