We have three viable short-sale targets here as we discussed in Short-Sale Set-Up (SSS) reports over the past couple of days. CRM is hovering around the 102 area as it has only managed to fill the gap of seven trading days ago. The precise top of the gap is 102.36, and so far that has served as rough resistance. BIDU moved lower yesterday on increasing volume in a big up tape, and it is wobbing here around the 114-115 area. 118-120 is our upside guide "area" for a stop. FOSL bounced off the 80 level, more or less, yesterday in a strong upside market, but we are still looking for a downside "breakout through 80 to confirm potential lower lows in the stock. For now we look at using bounces into 82-84, maybe even a little higher as rallies to short into, using an ultimate stop at the 50-dma around 89.40, although one could use the 20-dma at 83.98 as a quicker stop. In this market we prefer to use tighter stops and if necessary "campaign" stocks by continuing to test the stock into rallies and do not hold heavy short positions (at least from our perspective), if any, overnight.
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