When I shorted Sherwin Williams (SHW) around $53 the chart looked like this - it looked ready to break down as it broke below the 200 day moving average.
But it was not to be... the technical situation has improved markedly so I'm going to take the small loss and cover just under $55 as we head into the weekend. Here is how it looks now - it is making a series of lower highs, but not ready to crumble I suppose.
While Americans paint like its 2006, maybe they are not eating out as much as gas prices rise. I have a limit order to short Darden (DRI) if it gets to $34.30. Since shorting has gone out of fashion incredibly fast this level will allow me to escape if I am wrong just north of $35 with limited damage. Hasn't triggered so far.
I go into this weekend with minuscule short exposure, which should set us up for a -5% week on the indexes next week ;) It is becoming increasingly difficult to find really bad set ups...
No positions
