Not to much to report here on my end. As we go into the final hour of trading, I’m hoping to see some capitulation or a nice flush in price. I hold about six short positions right now, and I’d love to sell some of them on weakness. We are heading straight for a bounce and the likely place for it to occur is probably somewhere between 1275 and 1300.
And yes, as the title of this post suggests I shorted JCI at $30.73. Coupled with VAR both of these two young trades in my portfolio are lookings really weak on the charts.
SHORT: Chicos Fas (CHS)
LONG: Sturm Ruger (RGR)
LONG: Sapient Corporation (SAPE)
SHORT: Johnson Controls (JCI)
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