SSS - Under Armour, Inc. (UA) Short-Sale at 50-dma

Published : June 14 2011 at 11:28 ET
Under Armour (UA) has been rallying yesterday and this morning on an upgrade from Stern Agee, and the stock has moved right up to its 50-dma in what could be a right shoulder within a head and shoulders type of set-up with a narrow head we refer to as a "pin-head." Depending on what the market does, the stock is setting up as a potential short-sale here using the high of the day at 69.70, maybe a couple of percent more, as an upside stop. For purposes of fair disclosure we have been putting out a short position into this rally.

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