Almost every Monday morning of the past year and a half we open strongly to start the week; just my luck the one time I want to play the nonsense trade it does not work. Darn Europeans and their bank issues.
Last week's euphoria stopped me out of the 2 remaining individual shorts I had so I am going to take a stab at Monsanto (MON) which has bounced back with the market, after its earnings "narrowing" of guidance. It has filled the gap upward, and now sits right below the 50/20 day moving averages. This is a binary outcome - either it is going to break through or not.
I've shorted with a 2.4% allocation at $56ish; my stop will be over last week's highs i.e. $57.50 - which would trigger a loss of less than 3%.
Short Monsanto in fund; no personal position
x
Tuesday, September 7, 2010
Bookkeeping: Short Monsanto (MON)
Posted by
Mark
at
10:02 AM
Bookkeeping: Short Monsanto (MON)
2010-09-07T10:02:00-04:00
Mark
shorts|
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Labels: shorts
Bookkeeping: Short Monsanto (MON)
2010-09-07T10:02:00-04:00
Mark
shorts|
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