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Thursday, May 21, 2009

Bookkeeping: Short American Express (AXP)

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Will give it another go around with the over valued American Express (AXP) - I am targeting that gap in the chart around $21.30. 200 day moving average of $25 provides overhead safety valve... I am shorting with a 3.4% exposure near $24. Will cover at the gap if it succeeds. It AXP breaks north of $25 have to re-assess- but for aficionados of the tea leaves you can see a head and shoulders singing to you.

Short American Express in fund and personal account


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