2 replies to this topic

[phineas_gage]

Just sharing my thoughts. The stock has rallied right up to its downtrend line which has it's beginning on 7/12, and a touch at 8/7. Recent rally at 9/5 stopped right on it. The high that day, 46.64. Although MACD looks positive, my Stoch (5,3 3) shows it topped here. On 5 day chart, all volume spikes are red. My drawn downtrendline shows 46.35. Initiating short here at 46.50 with a 46.75 stop. Tight I know- but I'm just trying to make a buck and not fight the tape too much. Not advice, YMMV, don't run with scissors, etc.

[phineas_gage]

Well, that reminded me of my first sexual experience. Entertaining, but altogether too brief. At least it was cheap. Stop hit. I may take another crack at it later. edit: back in at 47. 47.25stop $.50 total is all I'm going to throw at this one.

Edited by phineas_gage, 13 September 2007 - 09:50 AM.

[ogm]

Just sharing my thoughts. The stock has rallied right up to its downtrend line which has it's beginning on 7/12, and a touch at 8/7. Recent rally at 9/5 stopped right on it. The high that day, 46.64. Although MACD looks positive, my Stoch (5,3 3) shows it topped here. On 5 day chart, all volume spikes are red. My drawn downtrendline shows 46.35. Initiating short here at 46.50 with a 46.75 stop. Tight I know- but I'm just trying to make a buck and not fight the tape too much.

Not advice, YMMV, don't run with scissors, etc.

Weekly chart looks like rounded top. Not a good short setup. Bottom looks prety solid.

Besides its a premier brand with good cash flow. I wouldn't short any premier or "status symbol" brands here.
Simple thesis.. worldwide growth of rich people and middle class.

Forget the US, its all global plays these days.

I think there are too many shorts in retailers, and they will get hurt. I have loaded JOSB and AEO longs already. JOSB has 60% short position. After earnings yesterday shorts can't get out fast enough for second day in a row.

Edited by ogm, 13 September 2007 - 09:48 AM.