If A-Power Energy (APWR) breaks through all 3 lines of resistance ahead, it deserves to give me a loss. I am shorting at $8.65 with a 3.5% stake; it topped out today at $8.72 and I will stop out just over $9.00 if the market screams higher on Google and JPMorgans "surprise beats" Thursday.
There are more gaps in the long term chart for APWR than at the typical middle class mall. While I'd be content for that low $7s gap to fill, the big fish is the gap below $6.
2 mo chart
4 mo chart
Research in Motion (RIMM) - same 3.5% stake at $69.60. 50 day moving average is $71, I'll stop out over in the low $72s to give myself some leeway. Obviously you can see the dream scenario here as well, but I'll probably take profits if it gets back to lower $60s.
Again these are subject to the exact same situation that happened this morning; if the market is pleased with a major player's earnings report - these charts will mean nothing. I see no one who is going to move the market tonight, but Thursday is chock full of folks who will swing us one way or the other. Since I am still overweight long exposure I am still looking for some short names as others 'self disqualify' themselves by breaking north of resistance. Short APWR, RIMM in fund; short APWR in personal account
