Wednesday, September 23, 2009

Punting Costco Short

A long term view of retailer Costco shows inordinate strength, of late. The stock does seem to be sitting just below a former support zone which may now serve as resistance.

I am punting 1 unit of COST short here at $58.10 with a stop at $60.11

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

Open Positions:
Long 1 unit Ultrashort Russell 2K ticker TWM @ $27.50 stop @ $26.40
Short 1 unit I-shares Russell 2k ticker IWM @ $61.70 stop @ $63.80
Short 1 unit Costco ticker COST @ $58.00 stop @ $60.11

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