Thursday, June 10, 2010

Bookkeeping: Short Ryanair Holdings (RYAAY)

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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


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