While CRM and AMZN haven't done much to trigger upside stops, it's not clear how much progress can be made on the short side outside of scalping a few points as the market drifts higher into a long holiday weekend. LNKD also remains weak and near its lows, while CF was a quick stop-out on the decisive move through 140. With markets somewhat placated by the ECB's recent move to start lending Euros to needy banks, the market may not have any sell-off catalysts, so our view is that this may not be a prime window of opportunity on the short side as we move into the end of the year. Of course, the easy way to let the market "prove" this to you is to let it stop you out of your short positions before jumping to any conclusions about what the market may or may not do going into year-end. For now, all we know for sure on the short side is that CRM and AMZN have not pushed through the levels we would use for guides on our upside stops, and both are off today in an up market, but the day is still young.
SSS - Thoughts on the Short-Side for Friday December 23rd, 2011
|Published:||23 Dec 2011 16:12 ET|
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