Monday, September 10, 2007

Getting Short Crocs and Las Vegas Sands

I posted a Crocs chart on this blog Aug 27th. My notes indicating it looked like good short and nothing has changed. I would like to claim that I got in that day as the top tick occurred on Crocs that morning but no such luck, I am not that good! Instead I am in today, short an initial exploratory position, into some modest intra day strength in the stock. (chart below), standing ready to add(pyramid down in this case) as the position moves in my favor or run like a chicken if it doesn't. Looks like an excellent risk/reward entry area.

Las Vegas Sands (LVS chart below)shows a larger double top and you can see the recent rally is dissipating. Again short here a small initial exploratory position, standing ready to add as it moves in my favor or cut and run if it proves me wrong, just as the above case.

We are always remined to let our winners run and cut our losses short. Good trading to you all.

* Remember these are not recommendations as I am NOT licensed to dispense investment advice.

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