Tuesday, August 24, 2010


Four set ups that I like over here on the long side.

CRM - From the watchlist yesterday. Started a position at 112.75

GMCR - Bouncing from MA(20). Has always rallied off nicely from MA(20) last month or so. Started a position at 32.27.

GMXR - Can turn into a huge short squeeze play.

ISLN - From the watchlist yesterday. Acting well.

Take care and good luck!


beantowntrader said...

No relation to this blog post but I was wondering how you think about MFC now that it dropped to $11? I know you said it was a good short last Friday, but missed out. Thanks.

positiontrader said...

The chart still looks very bearish but there is a positive MACD divergence developing. I think it will again make a good short on a dead cat bounce. Check out the weekly chart and you will see what I mean. Another way to play this would be to open a short position here and add more on the low volume bounce, if it happens.