Tuesday, September 28, 2010

Bookkeeping: Covering 2nd Half of Intuitive Surgical (ISRG)

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.

No positions

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