Friday, March 13, 2009

Short Google Yet Again.

I know this may sound crazy but I am jumping back into my GOOG short here at $325.4 with a stop just above the days high at $328.52.

I am having some trouble downloading the chart to blogger but suffice to say there is a bearish engulfing candle on the 60 minute chart this morning. I am placing my stop just above the high of that bearish engulfing bar.

Note the bearish engulfing bar occurred right at a descending trend line touching the prior 2 highs of $380 and $352.50 back in February.

Housekeeping notes;

I am raising my stop on UCO to $7.78 just as a defensive measure.

Good speculating to you all and never forget that "an investor is a speculator who made a mistake and will not admit it".

Open Positions:
Long 1 unit Ultrashort MSCI EAFE ticker EFU @ $89.80 stop @ $123.28
Long 1 unit Ultrashort Financials ticker SKF @ $137.35 stop @ $132.33
Long 1 unit Ultrashort Real Estate ticker SRS @ $62.75 stop @ $58.68
Short 1 unit Apple ticker AAPL @ $102.05 stop at $100.11
Short 1 unit Apollo Group ticker APOL @ $82.95 stop @ $82.95
Short 1 unit Microsoft ticker MSFT @ $19.20 stop @ $19.20
Short 1 unit Google ticker GOOG @ $325.30 stop @ $ 328.52
Long 2 units Ultra DJ Crude ticker UCO @ $8.05 stop @ $7.78

No comments: