In an identical setup to the short I put on yesterday with Celanese (CE) I am shorting Discover Financial Services (DFS) just under the 200 day moving average of $13.98. The logic is literally identical to the CE short so I won't rehash it, you can read the reasoning if it is not obvious here. I've put a 1.85% allocation on around $13.85, and will stop out at $14.25ish which would limit losses at 2.5%.
Despite yesterday's melt up all the shorts I put on Monday still look quite good. If we continue to melt up, of course that will change since 'student body left' trading leaves almost no one behind.
Short Discover Financial Services, Celanese in fund; no personal position
x
Wednesday, June 16, 2010
Bookkeeping: Short Discover Financial Services (DFS)
Posted by
Mark
at
10:20 AM
Bookkeeping: Short Discover Financial Services (DFS)
2010-06-16T10:20:00-04:00
Mark
shorts|
| Edit This Post |
Create A New Post
Labels: shorts
Bookkeeping: Short Discover Financial Services (DFS)
2010-06-16T10:20:00-04:00
Mark
shorts|
Best Of FMMF
- Blogroll
- 1: Warren Buffet Piles on Europe
- 2: [Video] Jim Chanos Returns from Europe, Even More Bearish on China
- 3: A Chart to Open Our Eyes - Staggering Changes by Multinationals in Employment Behavior 00s vs 90s
- 4: Futures Blasted on Dexia Woes... and Poor Preliminary China Data
- 5: Market Working to Worst Thanksgiving Since 1932
- 6: Et Tu, German Bonds? Poor Auction Raises Eyebrows
