Friday, April 9, 2010

Bookkeeping: Stopped Out of AsiaInfo Holdings (ASIA) Short

At this point the only game in trying to short anything is "over / under" i.e. how many days it takes before one gets stopped out of a reasonable stop loss.  I am going with 5.

AsiaInfo Holdings (ASIA) looked like it wanted to fill that gap as it broke support on March 24th.

The very next day the stock reversed ... after closing below support the previous session - so already an ominous sign.  After that - just a bunch of sideways action & with the market unable to selloff for more than 3-4 hours at a time and not in any capacity over 1%, the stock finally broke back above my stop loss in the closing moments of yesterday's trade. 

Another loss for the short side...

The trade could still be pursued but for a low risk entry one would look for a price below $26 to remount.

No position


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