SSS - Watching Potential Short-Sale Set-Ups

Published : December 29 2010 at 11:40 ET

We are looking to probe some possible short-sale set-ups as we see MasterCard (MA) rally up into its 50-day moving average on very limp volume, RIMM is teetering at its 200-day moving average, and BIDU is consolidating what looks like a "dead cat splat" as it sits here going sideways in a reverse-flag type of set-up. It's not clear whether progress can be made on the short side here if the market continues to "melt up" into New Year's Eve, but for the quick and nimble who need something to do we would watch and/or probe these three stocksas potential short-sale targets. Potentially, stops for each would be the 50-day line on MA at 226.15, a nice tight stop, today's intra-day high on RIMM at 58.47, and BIDU's intra-day high today at 99.64 or the 65-day exponential moving average at 101.76 depending on one's risk-preference and time horizon. More on these later with charts.
 


This information is provided by Virtue of Selfish Investing, LLC (VoSI) is issued solely for informational purposes and does not constitute an offer to sell or a solicitation of an offer to buy securities. Information contained herein is based on sources which we believe to be reliable but is not guaranteed by us as being accurate and does not purport to be a complete statement or summary of available data. VoSI reports are intended to alert VoSI members to technical developments in certain securities that may or may not be actionable, only, and are not intended as recommendations. Past performance is not a guarantee, nor is it necessarily indicative, of future results. Opinions expressed herein are statements of our judgment as of the publication date and are subject to change without notice. Entities including but not limited to VoSI, its members, officers, directors, employees, customers, agents, and affiliates may have a position, long or short, in the securities referred to herein, and/or other related securities, and may increase or decrease such position or take a contra position. Additional information is available upon written request. This publication is for clients of Virtue of Selfish Investing, LLC. Reproduction without written permission is strictly prohibited and will be prosecuted to the full extent of the law. ©2014 Virtue of Selfish Investing, LLC. All rights reserved.