No New Short Positions For Tuesday’s Stock Market Session

February 15, 2008

It was a very dull day and the late day bounce combined with the dull action has left us with not a lot to pick from. The small amount of shorts that did show up in my scans were pretty much not in good short positions. The only one that made the cut was FTI and after looking at it closely I can now see that it is above not only the 200 day moving average but above the 21-day moving average and that combined with it having a longer tail on the bottom than on the top (1.12 to 1.07) shows more buying support than selling pressure and therefore is no longer a short for Tuesday. I did not see this in the chart on my laptop as I do not use the 21 DMA on that one and the tail was not noticeable. But on my desktop the stock didn’t look right and after looking closer it is not a good short FOR ME. So today’s extremely dull trading and a small EOD rally has made it impossible to go after any stocks that are breaking down or failing at resistance.

new short positions: none

none

Last 5 posts in Free Archives Shorts

Posted by Joshua Hayes | Filed Under Free Archives Shorts 

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