SSS - Late-Day Thoughts on the Short-Side for Wednesday June 29.
We wrote on Friday that we felt the odds favored a rally off the 200-dma, and in fact we are in the midst of a 3-day rally so far this week from the 200-dma which has been fueled by what appears to be a Big Fat Greek Austerity Plan relief rally. We note some short-sale target stocks coming into range as follows:
AAPL: hit 50-dma and has stalled at that level. The 50-dma now becomes your upside level for a stop.
ARUN: In a head and shoulders formation with a big-volume break down the right side of the head on May 20th, the stock has run up to its 50-day moving average. This is a new idea, and the idea would be to use today's high at 29.79 as your upside stop.
LVS: finding resistance today at the 50-dma, and would be shortable here.
Watch the general market indexes, as short-sales would be advised only if the market shows strong evidence of rolling over here, which at 11:23 a.m. Pacific Time looks like a reasonable possibility by the close.
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