Wednesday, September 23, 2009
The daily view of Vornado, ticker VNO, shows 2 very well defined channels. The stock seems to be kissing up against a former support zone. I am prepared to punt VNO short as this area should now serve as resistance.
I am punting 1 unit short of VNO here at $68.40 with a stop just above the recent highs at $70.51
Good speculating and please remember to never forget that "an investor is a speculator who made a mistake and will not admit it".
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
Short 1 unit Vornado ticker VNO @ $68.30 stop @ $70.71