Hi RM,
I read your post about wanting to make money on the downside, as you're getting more bearish, so I've been looking around for plays.
Admittedly, I'm not a great short player, but I've been practicing lately, out of necessity. <gulp> I think it's hard for a lot of people to go short for two reasons: we're "betting" against our hope that our economy, and the companies within it, are strong, we're betting against the natural long-term direction of the stock market, which is "up".
Anyway, I found this article on QCOM, a TA take on its recent trading patterns. Essentially the thought is that since QCOM appears to have broken down a head and shoulders pattern it was forming, this is an indication for traders to leave the stock if long, and short the stock if agressive. I liked the explanation of what a head and shoulders pattern looks like.
trading-ideas.com
I've also been looking at buying puts on, or shorting outright, CTRX. As you probably know, CTRX is partly owned by MSFT and has been sliding ever since the DOJ announced that it was looking to break MSFT up. Here's a 60-minute chart, which looks like CTXS is closing in on amajor support level ($40). Of CTXS breaks $40, I'll move to short it:
siliconinvestor.com
I'll post more as I come up with them. |
