Thursday, June 10, 2010

Bookkeeping: Short Ryanair Holdings (RYAAY)

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


Disclaimer: The opinions listed on this blog are for educational purpose only. You should do your own research before making any decisions.
This blog, its affiliates, partners or authors are not responsible or liable for any misstatements and/or losses you might sustain from the content provided.

Copyright @2012