One New Short Position For Friday

August 31, 2007

There is nothing special about this short and this will be a very small amount in my portfolio.

new short position: RJET

RJET is failing right at the 50 and 200 day moving average, on strong volume. This stock has clearly put in a top in April and late May and has since started selling off on some strong distribution during th month of August. Recently, it has rallied back to the moving averages and is now failing right at those lines. What makes this failure a bit more interesting is that it is happening right after the 50 day moving average crossed below the 200 day moving average–known as a “death cross.” The failure occurring right after the “death cross” should increase the chances of this short working out. In case the death cross failure does not work, cut your loss with a close above the 50 and 200 day moving averages, if the stock does not move lower immediately.

Last 5 posts in Free Archives Shorts

Posted by Joshua Hayes | Filed Under Free Archives Shorts 

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