SSS - Watching Potential Short-Sale Set-Ups
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.
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