All my shorts at this moment will be purely technical, nothing to do with fundamentals but if you insist this is a discount airline in Europe. The setup is very defined, I am shorting here at $26.90 with about a 2.2% allocation. I am going to give it 50 cents or 1.8% for a stop loss, which will be $27.40.
I put out 3-4 other names but with limit purchases (shorts) that require them to jump another 3-6% to trigger, so let us see if the S&P 500 puts another +3% day up which would be the 3rd in about 10 sessions ... which is funny considering the downtrend we have been in. I am purposefully avoiding material or energy names because they are so news driven and the computers change their opinions on a 24 hour news cycle.
I am reminded of the Karate Kid by this market: wax on, wax off ... risk on, risk off.
Short Ryanair in fund; no personal position
Thursday, June 10, 2010
Bookkeeping: Short Ryanair Holdings (RYAAY)
Best Of FMMF
- 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