Bookkeeping: Closing Smith & Wesson (SWHC)

Gun Shoots are out. Green Shoots are in. Also a large dilutive offer just killed this story - unlike REITs or banks who people shout in glee when they are diluted, Smith & Wesson (SWHC) investors were not so lucky. The chart was a thing of beauty until management decided to swamp us with new shares.

Until the stock gets back above $5.75, much like Mastercard (MA) yesterday - I don't like the set up here, dead money... range bound.. below resistance. This chart says short, not long right now. Only had about a 0.7% stake left so taking a $600 loss to close it out (7%ish loss).

Now if I could only find a small cap Chinese gun maker it would probably be up 30% a day per the speculative juices of the week.

No position