Roger, I am about ready to short Citrix.
My trading account is 100% cash at this point, while my IRA - in which I went to cash on my "top" call is in subsequently-purchased CREAF, SUNW, IOM, and QNTM - all up, but I will not permit a loss on any of them, and insist on taking at least a small gain, so I will probably sell them all tomorrow.
My TA shows Citrix as an attractive short at this point. But, then again, my TA shows dozens of stocks as attractive shorts. The next couple of days will tell - the market could pull-off another last-minute save, but today I have indicators at cross-over on practically everthing.
My initial target on Citrix is 40, and then possibly 35. It should have support at 35, but if not, it could get really ugly below that.
If tomorrow is a big down day, I think the fat lady has sung, and you will just see grinding downward after that.
The particular case I see for Citrix is this: if we get, say, a 2-year bear market, where is Citrix coming out of the bear market? I don't think we have that much visability with Citrix. I think if people are going to hold through a bear market, they are going to want to hold stocks that have good visibility over the next 5 years. |
