Here are the charts on the six short positions in the portfolio – all of them are profitable as of this writing. I’m going to look to add another position tomorrow.
CF is trying to be acquired right now by AGU, but CF is resisting, and it doesn’t look like anything is going to happen before 9/22/09. CF is also trying to acquire TRA which isn’t a company AGU wants CF takeover. The trade is poised for a leg down, and has some solid overhead resistance to protect us.
Huge breakdown in BBT today. I’ll be looking for some continuation again tomorrow as this stock appears to be in a free-fall.
Another chart with heavy overhead resistance in the low-$30’s. It needs to break through the 50-day moving average for things to really start getting exciting.
LSI refuses to break its uptrend, but nonetheless we are still profitable. The action over the past 4 days is a bit concerning though.
RGLD is in a definite downtrend, with consolidation near its lows. A break below 38 would be a major blow to bulls. Look for a strengthening dollar and weakness in the broader market to send this stock spiraling.
GE made a lower-high, which led to us initiating a position this morning. As it stands now, it is on the verge of breaking the neck-collar on the double-top.
