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 |
This information is provided by MoKa Investors, LLC DBA Virtue of Selfish Investing (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. Reproduction without written permission is strictly prohibited and will be prosecuted to the full extent of the law. ©2024 MoKa Investors, LLC DBA Virtue of Selfish Investing. All rights reserved.