One New Short Position For Friday’s Stock Market Session

November 29, 2007

I am keeping this very small and am only taking it because nothing is for sure that we will rally and this short setup is considered perfect with the death cross nearing right after a failure at both moving averages. Can’t pass on this one.

new short position: THOR

THOR is failing at the rolling over 50 day moving average and 200 day moving average, on strong volume. The 50 dma is about ready to cross the 200 dma to the downside, confirming the weakness in this stock. The death cross is considered a very bearish chart development and should make it hard for THOR to get back above the $20. There is now a lot of resistance there. Cut your loss with a close above the 50 and 200 day moving averages, if the stock does not move lower immediately.

thor1129__Large_.PNG

Last 5 posts in Free Archives Shorts

Posted by Joshua Hayes | Filed Under Free Archives Shorts 

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