Nice to get a victory on the short side... been a while. I covered half the Intuitive Surgical (ISRG) short yesterday at $294 area, and am covering the rest today around $287/$288. Roughly a 3% gain cost averaged. Modest victories but that is all you can ask for on the short side until the S&P 500 experiences real selling. Specific to ISRG if the stock can rally back north of $300 I'd like to try the same trade.
At the time I was looking at new names to short late last week I considered Monsanto (MON) in the $54s which had a similar chart - obviously I should have grabbed that one in retrospect. That would have been a 10% gain in 2 sessions!
S&P 1131 remains the bogey.
Tuesday, September 28, 2010
Bookkeeping: Covering 2nd Half of Intuitive Surgical (ISRG)
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